Exports see 11.44% YoY growth, hit $4.25b in March

Bangladesh's merchandise exports grew by 11.44% year-on-year in March to $4.25 billion, up from $3.81 billion in the same month last fiscal year, according to data released by the Export Promotion Bureau (EPB) today (7 April).

This marks the sixth time in the last nine months that monthly exports have surpassed the $4 billion mark.

From July to March of the current fiscal year, total exports reached $37.19 billion, registering a 10.63% growth compared to $33.61 billion recorded during the same period of the previous fiscal year.

The readymade garment (RMG) sector, traditionally the cornerstone of Bangladesh's export basket, continued to dominate, accounting for $30.25 billion of the total exports in the first nine months – a 10.84% growth over the corresponding period last year.

Speaking to The Business Standard on the recent growth in the RMG sector, former BGMEA director Ashikur Rahman Tuhin said the latest export figures were boosted by early shipments ahead of the Eid vacation in March.

"Some goods were shipped in advance to avoid disruption during the holidays, which is reflected in the current apparel export growth data," he said, adding that March and April are typically peak months for final deliveries of summer collections.

However, the apparel leader expressed concern over the future growth of the sector due to the sudden tariff increases by the Trump administration.

"Everyone, including buyers and suppliers, is waiting for clarification on the total impact of the tariffs on their imports," he said.

"If any buyer asks for discounts or other forms of cost-sharing at this moment, it would be a violation of the contract. This is not a natural calamity or disaster. Any such one-sided decision would also be unethical," he added.

In March alone, RMG exports witnessed a 12.40% year-on-year growth, rising to $3.45 billion from $3.07 billion, as per EPB data.

Of this, knitwear exports stood at $1.6 billion with 12.93% year-on-year growth, while woven garment exports were $1.46 billion with 11.82% year-on-year growth in March FY25.

BGMEA former president Faruque Hassan also echoed Tuhin's views on the growth factors for March. He added that Bangladesh has invested in capacity building, sustainability, and product and market diversification over the years, which is now reflected in the growth of exports.

Other sectors

The RMG sector continues to anchor the export landscape, showing strong and consistent growth both cumulatively and on a monthly basis.

Beyond RMG, several other sectors also contributed significantly to the overall export growth. Among them, leather and leather products, as well as light engineering products, registered notable growth, signalling the diversification potential of Bangladesh's export base.

However, home textiles, specialised textiles, and non-leather footwear sectors showed moderate but positive growth.

On the other hand, the jute sector remained largely stagnant, with minimal growth in March this fiscal year. Agricultural products, an emerging export segment, suffered a significant negative growth of 25.72%, necessitating targeted interventions to reverse the trend.