Bangladesh has set an ambitious export target of $63.5 billion for the 2025–26 fiscal year, aiming for a 16.5% increase over last year’s goal. The target includes $55 billion from goods and $8.5 billion from services, reflecting optimism across key sectors like garments, leather, jute, and agriculture .In the previous fiscal year, exports grew by 8.5%, showing steady progress despite falling short of expectations. Industry leaders believe the new goal is achievable if domestic bottlenecks—such as energy shortages, banking delays, and port congestion—are addressed. This week, Commerce Secretary Mahbubur Rahman stated that he will start discussions with representatives from different sectors to find and address one or two key problems in each industry. Exporters welcome this move, noting that smoother customs clearance, better access to credit, and reliable power could unlock significant growth. The ready-made garments (RMG) sector, which contributes over 80% of goods exports, is expected to earn $44.49 billion. With rising demand from the US and EU, especially as other countries scale back low-end production, Bangladesh has a chance to expand with diverse designs and higher volumes. The leather industry is targeting $1.25 billion, a 9.2% rise, with calls for improved infrastructure and compliance standards. Jute exports aim for $900 million, up 9.7%, supported by investments in testing and research. Agriculture is projected to grow by 22.4% to $1.21 billion, driven by supply chain improvements and cold storage expansion. Recent changes in US tariffs have given Bangladesh a competitive edge, especially in garments. Lower average tariffs compared to rivals could attract more orders, though exporters caution against relying too heavily on one market. Even with outside benefits, the greatest danger still lies in internal issues. Factories often operate below capacity due to irregular gas supply and banking complications. Exporters say delays in processing letters of credit and long wait times at ports—sometimes stretching several days—add unnecessary costs and limit order acceptance. Economists suggest that Bangladesh should develop four- to five-year strategies focused on trade efficiency, product diversification, and market promotion. These steps would help businesses operate at full speed, create jobs, and build resilience against global fluctuations. Industry leaders express confidence in the workforce and infrastructure, stating that with the right support, Bangladesh can exceed its targets and prepare for future transitions, including graduation from least developed country status.
