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Turkey, Japan, Australia and South Korea are emerging as key destinations for Bangladesh’s readymade garment (RMG) exports, as shipments to non-traditional and emerging markets grew 9.30 per cent to US$2.37 billion in the first four months of the current fiscal year (FY27).
Export earnings from these markets stood at $2.37 billion during July-October, up from $2.17 billion in the corresponding period of FY26, according to the latest data from the Export Promotion Bureau (EPB).
Turkey recorded the highest growth among the major non-traditional markets, with RMG exports more than doubling during the period.
Adviser to the Prime Minister on the ministries of Finance and Planning Dr Rashed Al Mahmud Titumir said the government, under the leadership of Prime Minister Tarique Rahman, was working to expand exports in both traditional and non-traditional markets.
“The government has undertaken initiatives to develop necessary infrastructure and formulate timely policies to transform Bangladesh into a regional production and export hub. The government is pursuing the Three-R strategy to build the required capacity and institutional framework before the country’s graduation from the LDC category,” he said.
He added that the government aimed to strengthen Bangladesh’s position in global supply chains by exploring new markets, diversifying export products and enhancing production capacity.
According to EPB data, RMG exports to Turkey surged 107.05 per cent to $206.5 million in July-October, compared with $99.7 million in the same period last fiscal year.
The increase of $106.8 million accounted for around 53 per cent of the overall growth in exports to non-traditional markets. Turkey’s share in Bangladesh’s RMG exports to these destinations also rose to 8.71 per cent from 4.60 per cent.
Japan remained the largest non-traditional destination, with exports reaching $437.3 million, registering 2.40 per cent year-on-year growth. The country accounted for 18.44 per cent of total RMG exports to these markets.
Exports to Australia increased 3.01 per cent to $264 million, while shipments to South Korea rose 5.82 per cent to $151.3 million.
In contrast, Bangladesh’s RMG exports to India declined 5.38 per cent to $250.9 million during the period.
Exports to destinations outside the top five non-traditional markets also maintained a positive trend, growing 8.48 per cent to $1.06 billion. These markets accounted for 44.76 per cent of Bangladesh’s total RMG exports to non-traditional destinations.
The growth continued in October alone, when RMG exports to non-traditional markets increased 8.99 per cent to $559.7 million.
During the month, exports to Turkey surged 75.96 per cent to $59.8 million, making it the second-largest destination after Japan. Shipments to Japan stood at $93.7 million, up 1.64 per cent from the same month last year.
Exports to Australia rose 11.32 per cent to $55 million. However, shipments to India fell 5.41 per cent to $45.9 million, while exports to South Korea declined 4.60 per cent to $30.4 million.
Industry insiders said expanding exports to emerging markets would be crucial to strengthening the long-term competitiveness of Bangladesh’s garment sector.
They noted that sustained growth in destinations such as Japan and Turkey, alongside expansion into other markets, would help reduce the country’s dependence on a limited number of traditional export destinations.
Market diversification is also expected to play an important role in maintaining Bangladesh’s export competitiveness after its graduation from the least developed country (LDC) category.