Staff Correspondent

The government has set an ambitious export target of US$63.5 billion for the 2025–26 fiscal year, Commerce Adviser Sk Bashir Uddin said on Tuesday.

Speaking at a press conference at the Ministry of Commerce, Sk Bashir said the plan aims to earn $55 billion from goods and $8.5 billion from services, a significant push to accelerate the nation’s economic growth.

Senior ministry officials, along with leaders from various trade bodies and business sectors, were present at the briefing.

“This new target follows a period of notable growth,” the adviser said.

In FY2024–25, Bangladesh’s goods exports brought in $48.28 billion, achieving nearly 97 percent of the year’s goal and marking an 8.58 percent increase over the previous year.

The services sector also showed positive momentum, earning $5.77 billion from July to April of FY25, up 5.13 percent from the same period the year before.

According to Sk Bashir, the new targets were finalised after reviewing recent export performance, global trade trends, and the impact of geopolitical factors, including the conflicts in the Middle East and the ongoing war in Ukraine.

The FY26 export plan remains heavily dependent on the ready-made garments (RMG) industry — Bangladesh’s economic powerhouse.

The woven garment segment has been set a $20.79 billion target, reflecting an expected 14.31 percent growth, while knitwear aims for $23.70 billion, up 12.01 percent from the previous year.

Other sectors are also expected to post strong performances:

·         Leather and Leather Goods: Targeted at $1.85 billion, the second-largest export sector is expected to surpass this figure if market conditions remain favourable.

·         Agricultural Products: With a $1.21 billion target, this sector aims for a 22.43 percent increase, supported by calls for better infrastructure, such as dedicated cargo planes and enhanced cooling systems at airports.

·         Jute and Jute Products: A $900 million target has been set, with a projected 9.73 percent growth. Stakeholders are urging greater investment in the Bangladesh Jute Research Institute (BJRI) and stricter quality control through laboratory testing to boost Bangladesh’s reputation as a sustainable exporter.

·         Home Textiles: Expected to grow by 17.03 percent, with a $1.02 billion target.

·         Frozen and Live Fish: Aiming for $539 million, this sector anticipates 22.06 percent growth, with industry leaders hopeful that new shrimp hatchery licences and better quarantine facilities will help them exceed expectations.

The government and industry leaders share an optimistic outlook, viewing the $63.5 billion goal as both a challenge and an opportunity to build on the current growth trajectory while navigating the complexities of the global market.