In the first half of the current fiscal year 2024-25, Bangladesh’s export earnings increased by nearly 13 percent compared to the same period of the previous year. This success was possible because the ready-made garment sector regained stability despite some disruptions in production due to worker dissatisfaction in August and September last year.

According to provisional data from the National Board of Revenue (NBR), Bangladesh has maintained positive growth for the fourth consecutive month, mainly dependent on ready-made garment (RMG) exports.

The NBR said that export earnings in December increased by 7 percent compared to the same period of the previous year to reach $4.7 billion, while it was $3.42 billion the previous year.

The report said that the total export earnings from July to December were $24.55 billion, which was $21.74 billion in the same period of the previous year.

As Bangladesh’s main export sector, ready-made garment (RMG) earned about $20 billion in the first half, which is more than 81 percent of the total export earnings.

RMG exporters cited two main reasons for the growth—economic recovery in key export markets, which has boosted sales, and the stabilization of labor unrest in industrial areas, which has led to some orders that had gone abroad coming back to Bangladesh.

Abdullah Hill Rakib, former senior vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said that the fact that Bangladesh is getting more orders than before is an indication of this export growth.

The managing director of Team Group said that Team Group’s six production units are currently running at full capacity.

He added that the impact of Christmas, Black Friday, New Year, Thanksgiving and Boxing Day in the Western world was behind the export growth in December.

Envoy Textiles Managing Director Tanvir Ahmed said that their textile mills operated at 92 percent capacity in the first quarter. He said that they had taken orders at full capacity till mid-February and operated at full capacity in December as well.

However, he warned that buyers are trying to reduce prices due to rising food inflation in Western countries.