Bangladesh’s readymade garment exports to non-traditional markets slightly declined in the July-November period of FY2024-25 due to reduced knitwear shipments, while earnings from traditional markets, including the United States and the European Union, saw significant growth in the period.

The country’s export earnings from non-traditional markets in the first five months of FY25 fell by 0.77 per cent to $2.76 billion, down from $2.78 billion in the same period of FY24, according to data from the Export Promotion Bureau.

Woven garment exports to non-traditional markets during this period grew by 11.26 per cent to $1.36 billion, while knitwear exports declined by 10.23 per cent to $1.40 billion.

The country’s export destinations, other than the US, EU, UK and Canada, are considered non-traditional or new markets.

Although RMG exports to non-traditional markets saw a slight decrease, earnings from Japan, India, South Korea, Turkey and Mexico registered moderate growth in the first five months of FY25.

Bangladesh’s RMG exports to Japan in July-November of FY25 increased by 3.69 per cent to $496.20 million, up from $478.57 million in the same period of FY24.

RMG exports to India during the first five months of FY25 grew by 16.48 per cent to $325.06 million, up from $279.06 million in the same period of the previous financial year.

The country’s apparel exports to Turkey in July-November of FY25 increased by 50.54 per cent to $181.85 million, while shipments to Brazil grew by 30.06 per cent to $66.04 million.

RMG exports to Russia during the same period fell by 9.34 per cent to $115.04 million, while export earnings from the United Arab Emirates declined by 15.44 per cent to $98.27 million.

EPB data showed that non-traditional markets contributed 17.11 per cent to total RMG exports in the first five months of FY25, down from 19.37 per cent in FY24.

According to government data, RMG exports to the EU grew by 13.74 per cent, while exports to the US increased by 17.44 per cent in the July-November period of FY25.

It also showed that RMG exports to the UK market in the first five months of FY25 recorded a growth of 5.84 per cent, while shipments to Canada increased by 13.22 per cent during the same period.