News update
  • New Secy-Gen Shirley Botchwey pledges to advance Co’wealth values in divided world     |     
  • C. A. Dr. Yunus’ China Tour Cements Dhaka-Beijing Relations     |     
  • Myanmar quake: Imam's grief for 170 killed as they prayed in Sagaing     |     
  • Eid Tourism outside Dhaka turning increasingly monotonous      |     
  • China visit a ‘major success’ for interim government: Fakhrul     |     

Dhaka's RMG exports reach $38.48 bn in 2024: New markets up

Trade 2025-01-17, 10:28pm

rmg-factory-e0f217a51c887452b9f09ec54ec4b7441737131281.jpg

An RMG factory



Dhaka, Jan 17 --Bangladesh’s readymade garment (RMG) exports hit an impressive $38.48 billion in 2024, showcasing the sector’s ongoing success.

The European Union remained the largest market, accounting for 50.34% of total RMG exports, valued at $19.37 billion.

The United States followed with $7.2 billion (18.72%), while the United Kingdom contributed $4.3 billion (11.25%), Mohiuddin Rubel, former director of BGMEA, shared the data.

Germany, Spain, and France were key markets within the EU, importing $4.83 billion, $3.42 billion, and $2.14 billion worth of RMG products, respectively. Canada also played a notable role, with exports totalling $1.24 billion and a 3.23% market share.

Beyond traditional markets, Bangladesh is making notable strides in non-traditional regions.

Exports to countries like Japan, Australia, India, Turkey, and Russia amounted to $6.33 billion, or 16.46% of total RMG exports. Japan was the top destination among these markets, with $1.12 billion in exports, followed by Australia at $831 million, India at $606 million, Turkey at $426 million, and Russia at $343 million.

This expansion into non-traditional markets is helping to diversify Bangladesh’s export base and strengthen the resilience of its RMG industry on the global stage. - UNB