RMG exports reach $38.48b in 2024, with strong growth in non-traditional markets
The European Union remained the largest market, accounting for 50.34% of total RMG exports, valued at $19.37 billion
Highlights
- Bangladesh's RMG exports reached $38.48 billion in 2024
- The European Union accounted for 50.34% of total RMG exports, valued at $19.37 billion
- Japan was the top destination among emerging markets with $1.12 billion in exports
- Expansion into non-traditional markets is helping Bangladesh diversify its export base and enhance industry resilience
Bangladesh's ready-made 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.
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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 Bangladesh Garment Manufacturers and Exporters Association (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.
