Bangladesh’s readymade garment sector achieved significant success in 2024, with exports totaling $38.48 billion, underscoring its robust growth trajectory. According to Mr. Mohiuddin Rubel, former director of BGMEA, the European Union emerged as the largest market, accounting for 50.34% of total RMG exports, valued at $19.37 billion. Following closely, the United States constituted $7.2 billion (18.72%) of exports, while the United Kingdom contributed $4.3 billion (11.25%).
Within the EU, key markets included Germany, Spain, and France, which imported $4.83 billion, $3.42 billion, and $2.14 billion worth of RMG products, respectively. Canada also played a significant role with exports amounting to $1.24 billion, capturing a 3.23% market share.
Bangladesh has also made strides in diversifying its export destinations beyond traditional markets. Non-traditional regions such as Japan, Australia, India, Turkey, and Russia collectively received $6.33 billion in RMG exports, accounting for 16.46% of the total. Japan led among these markets with exports worth $1.12 billion, followed by Australia at $831 million, India at $606 million, Turkey at $426 million, and Russia at $343 million.
This expansion into new markets not only diversifies Bangladesh’s export portfolio but also enhances the resilience of its RMG industry on the global stage. The sector’s ability to penetrate diverse markets reflects its adaptability and competitiveness, further solidifying Bangladesh’s position as a key player in the global apparel market.
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