Country sees record $4.77b exports in July, up nearly 25% YoY

Bangladesh's exports hit an all-time monthly high in July, reaching $4.77 billion – marking a 24.9% year-on-year increase, according to data from the Export Promotion Bureau (EPB).

This is the highest single-month export figure the country has ever recorded.

Although exports briefly crossed the $5 billion mark in January 2024, that figure was later revised down to $4.12 billion. The previous monthly high stood at $4.63 billion in December 2024.

Exporters believe the July surge was a combination of factors – a post-Eid shipment pressure, uncertainty over US tariff hikes, and a low base effect due to disruptions last year.

They pointed out that exports appear significantly higher this July because, during the same month last year, many factories were closed due to political unrest, leading to lower shipment volumes at the time.

Shovon Islam, managing director of Sparrow Group, one of the country's leading apparel exporters, said, "Until July, US tariffs on Bangladeshi apparel were around 26%. Had the earlier tariff hike plan been enforced, it would have gone up to 56%. Although it was eventually reduced to around 36%, the uncertainty made US buyers push for earlier shipments."

"This is one of the reasons behind the rise in exports in July," he said. Shovon's company exports over $300 million annually and more than half of it goes to the US.

The US remains Bangladesh's single largest export market, accounting for approximately $8.4 billion in shipments annually.

Fazlee Shamim Ehsan, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), pointed to last year's political unrest as another reason behind the sharp year-on-year growth. 

"Due to the student and mass uprisings last July, factories were shut for around eight days. That meant a third of the month's production was lost, leading to lower exports," he told The Business Standard. "So, the base figure was already low."

"In reality, exports haven't grown that drastically – as the export figures were low at that time, the growth in July this year appears higher in comparison," he said.

Two other major exporters shared similar views, pointing out that many US buyers acted early to avoid supply chain risks amid trade policy uncertainties.

According to exporters, they are not worried about losing orders, as the Trump administration has reduced tariffs from 35% to 20%, and the rate remains either similar to that of other countries or lower than key competitors.

On the contrary, they believe export orders may increase further in the coming days.

MA Jabbar, managing director of DBL Group, a leading garment exporter, said, "Orders are a bit slow at the moment, which is normal. But we expect new orders to pick up in the coming months."

BKMEA President Mohammad Hatem urged exporters not to accept orders at discounted rates. "We must not absorb the pressure of 20% tariffs ourselves," he warned. "If anyone accepts lower-than-standard prices, they will suffer losses. There's no room for price cuts below the current rate."

Inamul Haq Khan Bablu, senior vice president of the BGMEA, told TBS, "Products shipped from Chattogram by 7 August will also be exempt from the additional tariffs. As a result, exporters are currently extremely busy as US buyers are pressing for shipments to be made before that."

"As a result, we expect to see strong export growth in August as well," he added.

According to EPB data, nearly 85% of the country's exports come from the apparel sector, which grew by around 25% year-on-year in July.

Several other sectors also posted healthy growth. Frozen and live fish exports rose by 43%, leather and leather products by 30%, other footwear by 44%, agricultural products by 13%, plastic products by 7%, home textiles by 13%, and jute goods by 5%.

Compared to June 2025, total exports in July increased by nearly 43%.