Bangladesh Exports Drop Nearly 20% in March

Bangladesh’s merchandise export earnings fell sharply in March, declining 19.78 percent year-on-year amid fewer working days, weaker global demand and domestic production challenges.

According to provisional data from the National Board of Revenue, the country exported goods worth $3.39 billion in March, down from $4.23 billion in the same month last year.

Export volume during the month stood at around 420 million kilograms.

Exporters said the decline was partly due to the Eid-ul-Fitr holidays, which reduced effective working days by around eight to 10 days and affected shipment schedules.

However, industry insiders said broader global pressures played a more significant role, including subdued demand in key Western markets and growing price competition.

They noted that retaliatory tariffs in the United States have reduced orders from American buyers.

At the same time, Chinese exporters, redirecting shipments away from the US market, have been offering lower prices in Europe, putting additional pressure on Bangladeshi goods.

The latest figures also suggest a continuing slowdown in the current 2025–26 fiscal year.

After posting around 25 percent growth in July, export performance has weakened in almost every subsequent month. In February, export earnings stood at $3.50 billion, marking a marginal 0.50 percent year-on-year decline.

The ready-made garment sector, which accounts for more than 80 percent of Bangladesh’s export earnings, has been particularly affected, posting consecutive declines for seven months from August to February.

Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association, described the situation as a “perfect storm” of both global and domestic challenges.

“Orders from the US and the European Union have been declining following the imposition of retaliatory tariffs,” he said, adding that tensions in the Middle East are also hurting hopes of a near-term recovery.

He also pointed to domestic bottlenecks, including diesel shortages that are affecting factory operations, and urged the government to ensure uninterrupted fuel and energy supplies to keep industrial production running smoothly.

The NBR figures are based on customs data and include actual exports, sample exports and deemed exports, such as the supply of raw materials to export-oriented industries.

The Export Promotion Bureau has yet to publish its official monthly export data.