United News of Bangladesh

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. RMG machinery, allied products mega-expo starts Jan 8 in Dhaka 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. Proportion of women in RMG sector declining as few fill mid-to-top level positions 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.

Bangladesh's apparel industry is increasingly focusing on product diversification, innovation, technology upgradation and skill development to enhance its capabilities and competitiveness in the global market in the coming days, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Vice-President Shahidullah Azim said. He was speaking at a 16th senior basic intelligence course 2022 event organised by the National Security Intelligence Training Institute in Dhaka Sunday. The readymade garments (RMG) industry is focusing on diversifying products, especially man-made fibre-based products as part of its strategy of shifting from volume to value and quantity to quality, the BGMEA vice-president said. "Globally the share of cotton textile and clothing consumption is 25 percent only, but 75 percent of Bangladesh's RMG product is concentrated on cotton. This means we have tremendous opportunities in this segment."