United News of Bangladesh

Commerce Minister Khandakar Abdul Muktadir on Tuesday told Parliament that Bangladesh's trade deficit widened to US$ 24.17 billion in the fiscal year 2024-25, as the increase in import expenditure outpaced growth in export earnings. He disclosed the information while responding to a question from BNP lawmaker from reserved women seat Nilufar Chowdhury Moni. The minister said the country earned $55.19 billion from exports during FY25, while import expenditure rose to $79.36 billion, resulting in a trade gap of $24.17 billion. The figures show a reversal of the narrowing trend observed in the previous fiscal year, when the trade deficit stood at $21.50 billion, he said. Export earnings increased by about 8 percent from $51.11 billion in FY24 to $55.19 billion in FY25. However, import payments grew at a faster pace, rising from $72.62 billion to $79.36 billion during the same period. The data indicates that Bangladesh's trade deficit has fluctuated considerably over the past five fiscal years, largely reflecting changes in global commodity prices, domestic demand and international trade conditions. In FY21, the country's export earnings stood at $45.37 billion against import expenditure of $61.61 billion, leaving a trade deficit of $16.24 billion. The deficit widened sharply to a record $28.14 billion in FY22 as imports surged to $89.11 billion, while exports reached $60.97 billion. In FY23, export earnings declined to $53.93 billion and imports fell to $78.30 billion, reducing the trade gap to $27.18 billion. The deficit narrowed further to $21.50 billion in FY24 as import expenditure dropped significantly to $72.62 billion, while exports amounted to $51.11 billion. Despite the increase in export receipts in FY25, the faster growth in imports widened the trade imbalance once again, highlighting the continued pressure on the country's external sector. According to the data, Bangladesh's exports have increased by nearly 22 percent over the past five years, from $45.37 billion in FY21 to $55.19 billion in FY25, while imports rose by almost 29 per cent during the same period, from $61.61 billion to $79.36 billion. The minister said Bangladesh's exports continue to be concentrated in a number of key international markets, with the United States, Germany, the United Kingdom, Spain, France, Poland, the Netherlands, Japan, Canada and India remaining the country's principal export destinations. He said Bangladesh exports a wide range of products to these destinations, reflecting the country's growing industrial and manufacturing capacity beyond its traditional ready-made garments (RMG) sector. According to Muktadir, knitwear and woven garments remain the leading export items in most of the major markets. Other significant export products include leather and leather goods, agricultural and agro-processed products, home textiles, jute and jute goods, cotton and cotton products, and engineering products. He said Bangladesh is also exporting footwear, excluding products classified under specific tariff headings, as well as jute yarn and twine, frozen and live fish, chemical products, hats and caps, shrimp, paper and paper products, plastic goods and tents. The export basket has further expanded to include pharmaceutical products, dried and processed food items, knitted fabrics, electrical products, raw jute, wigs and human hair products, the minister added.

Bangladesh exported goods worth  $4.25 billion, marking a year-on-year growth of 11.44 percent compared to $3.81 billion in March, 2024. According to the Export Promotion Bureau (EPB) during the first nine months of the Fiscal Year 2024-25 (July–March), Bangladesh’s export sector demonstrated a commendable performance, achieving a total export earnings of US$ 37.19 billion. The export growth reflects a 10.63 percent growth compared to $33.61 billion recorded during the same period of the previous fiscal year. The Ready-Made Garments (RMG) sector, traditionally the cornerstone of Bangladesh’s export basket, retained its leading position. RMG exports during July–March FY 2024-25 reached $ 30.25 billion, reflecting a 10.84 percent growth over the corresponding period last year. For the month of March alone, RMG exports witnessed a 12.40 percent year-on-year growth, rising to $3.45 billion from $3.07 billion. Beyond RMG, several other sectors also contributed significantly to the overall export growth. Bangladesh saw export growth by 15.63% in Nov The table below presents a comparative performance matrix of key sectors: Value in USD Million SectorExport Earnings (Jul–Mar FY 2023-24)Export Earnings (Jul–Mar FY 2024-25)Growth (%) Jul–MarYoY Growth in March (%)Total ExportsUSD 33,617.41USD 37,191.3210.63%11.44RMG (Total)27,288.7330,246.3410.84%12.40Knitwear14517.4616146.7211.2212.93Woven12,771.2714099.6210.4011.82Leather & Leather Goods775.36852.019.8922.64Jute & Jute Goods678.37626.29-7.680.28Light Engineering Products362.96402.4510.8833.32Home Textiles645.68677.604.943.30Specialized Textiles249.04298.3919.645.84Other Footwear (Excl. Ch. 64)309.12414.6834.1544.03Agricultural Products760.40807.066.14-25.72The RMG sector continues to anchor the export landscape, showing strong and consistent growth both cumulatively and on a monthly basis. EPB said in its observation . Leather and leather goods, as well as light engineering products, registered notable growth, signaling the diversification potential of Bangladesh's export base. Bangladesh expects to see export growth despite global trade shifts Home textiles, specialized textiles, and non-Chapter 64 footwear sectors showed moderate but positive growth. The jute sector remained largely stagnant, with minimal growth. Agricultural products, an emerging export segment, suffered a significant negative growth of 25.72%, necessitating targeted interventions to reverse the trend.