Bangladesh’s export earnings saw a remarkable rise of 17.72% in December 2024, compared to the same month in the previous year. The export revenue for December 2024 was recorded at $393.09 million, up from $334.67 million in December 2023.

The significant increase was driven by the country’s ready-made garment (RMG) sector, which saw a growth of 17.45%, with earnings reaching $377.05 million, up from $321.04 million the previous year. This sector remains the largest contributor to the country's export income.

Exports of agricultural products also showed positive growth, increasing by 14.41% to $10.1 million. Leather and leather goods exports grew by an impressive 24.19%, reaching $11.09 million, while home textiles saw a 20.47% increase, amounting to $8.39 million in December.

The Export Promotion Bureau (EPB) report further revealed that Bangladesh exported a total of $2.45 billion worth of goods in the first half of the 2024-25 fiscal year (July-December), a 12.84% increase compared to the same period last year.

Plastic products exports saw a growth of 29.72%, earning $158 million, up from $122 million in the previous year. Pharmaceutical exports also grew by 12.11%, reaching $114.42 million. Additionally, the export of artificial leather footwear showed a notable rise of 39.10%, with earnings reaching $274 million, compared to $197 million during the same period last year.

SM Khaled, Managing Director of Snotex Group, mentioned that global apparel buyers are increasingly shifting their sourcing from China to Bangladesh, contributing to the rise in export earnings. He also noted that orders from Myanmar are being transferred to Bangladesh, which has further boosted exports.

He expressed confidence that the upward trend in export growth would continue in the coming months, although he raised concerns about the impact of the new wage increase that will take effect in January. If the wage hike puts pressure on manufacturers and increases business costs, it could slow down the growth rate.

Fazle Shamim Ehsan, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), highlighted that there is typically an increase in demand for apparel products during the Christmas, Black Friday, and New Year periods, which leads to more shipments and consequently higher exports. However, he emphasized that there is a significant increase in orders this year, which presents a valuable opportunity for the industry. He also stressed the need for improved law and order to capitalize on this opportunity.