Bangladesh’s export earnings for the first half of the current financial year 2024-25 totaled $24.53 billion, marking a 12.84 per cent increase from $21.74 billion in the same period of FY24, driven by higher shipments of readymade garment products.

The single month export earnings in December 2024 increased by 17.72 per cent year-on-year to $4.63 billion from $3.93 billion in the same month of 2023, according to the Export Promotion Bureau data released on Thursday.

Exporters described the export growth as ‘very good,’ saying that despite numerous challenges, Bangladesh’s export sector achieved encouraging progress.

They attributed this success to manufacturers gaining the confidence of global buyers by consistently delivering high-quality products on time.

The government data showed that readymade garment exports in July-December period of FY25 increased by13.28 per cent to $19.89 billion from $17.56 billion in the same period of FY24.

The country’s export earnings from RMG in December 2024 rose by 17.45 per cent to $3.77 billion.

The EPB data showed that knitwear exports in the first half of FY25 grew by 13.01 per cent to $10.84 billion from $9.59 billion in the same period of FY24.

Export earnings from woven garments in July-December of FY25 grew by 13.60 per cent to $9.05 billion from $7.97 billion in the same period of the previous financial year.

‘Although Bangladesh’s readymade garment sector faced significant challenges, including political instability, labour unrest, and a gas crisis, the sector still achieved impressive export growth in the first half of FY25,’ said Faruque Hassan, former president of the Bangladesh Garment Manufacturers and Exporters Association.

He said that the impressive growth in the sector was driven by product and market diversification, as well as the production of high-value products.

‘Global buyers have remained confident in Bangladeshi suppliers because manufacturers consistently fulfilled their commitments by ensuring timely shipments, even in challenging and turbulent situations,’ he said.

Faruque also said that the country’s apparel manufacturers have made significant investments in the circular economy, advanced machinery, technology, and process upgrades. These initiatives have played a crucial role in attracting more export orders from global buyers, he said.

Faruque expressed optimism that global demand for apparel would rise further in the coming months as inflation and interest rates declined in western markets.

‘We, however, are still facing challenges, including complexities in customs procedures, gas shortages, and concerns about law and order. Hopefully, the interim government will address these issues promptly,’ he said.

The country’s export earnings from agricultural products in the first half of FY25 grew by 9.31 per cent to $595.51 million from $544.77 million in the same period of FY24.

Export earnings from leather sector grew by 10.44 per cent in the first half of FY25, reaching $577.29 million from $522.72 million in the same period of FY24.

Data showed that leather footwear exports in July-December of FY25 increased by 30.80 per cent to $352.65 million in the same period of FY 24.

Export earnings from home textile in the first half of FY25 grew by 7.85 per cent to $410.81 million from $380.90 million in the same period of FY24.

Jute and jute goods exports saw an 8.11per cent decline in the six-month period of FY25, amounting to $417.39 million from $454.21 million in the same period of FY24.

The country’s export earnings from engineering products grew by 6.31 per cent during July-December of FY25, reaching $250.07 million, EPB data showed.