Bangladesh’s goods exports have been stuck in the range of approximately $48 billion for four consecutive years. While global exports have increased by nearly 7 percent during the same period, Bangladesh’s exports have grown by only 2 percent. Meanwhile, Vietnam’s exports have grown by 16.8 percent and Cambodia’s by 17.3 percent.
This information was revealed today at a workshop organised by the research organisation Research and Policy Integration for Development (RAPID) at the National Press Club in the capital.
In RAPID’s keynote presentation, it was stated that it is not the issue of LDC graduation, but rather long-standing structural weaknesses, limited export diversification, low foreign investment and rising production costs that are gradually weakening Bangladesh’s competitiveness in the international market.
Bangladesh’s exports were growing consistently before the COVID-19 pandemic, the keynote paper noted. From $31.1 billion in the 2015 fiscal year, exports rose to $40.5 billion in the 2019 fiscal year. Despite dropping to $33.7 billion in the 2020 fiscal year due to the COVID shock, it rebounded to reach $52.1 billion in the 2022 fiscal year.
But exports fell again to $46.4 billion in the 2023 fiscal year and stood at $44.5 billion in 2024. In the 2025-26 fiscal year, it has remained stagnant at around $48 billion.
While global exports grew by nearly 7 percent in 2025, Bangladesh’s exports increased by only 2 percent. During the same period, Cambodia’s exports grew by 17.3 percent and Vietnam’s by 16.8 percent.
The research states that while Bangladesh has become stagnant, its competitor countries are rapidly strengthening their positions in new markets and with new products.
In 2014, the export-to-GDP ratio was 15.2 percent, which had declined to 10.6 percent in 2025, the study shows. During the same period, the trade-to-GDP ratio also fell from 35.8 percent to 25.9 percent. This indicates a decreasing contribution of exports to productivity, technology adoption and quality employment.
The report further states that over 80 percent of Bangladesh’s total exports come from the readymade garment (RMG) sector. Nearly 71 percent of garment exports are cotton-based, whereas non-cotton apparel accounts for about 59 percent of the global market. Bangladesh has consequently become dependent not only on a single sector but also on a very limited number of products within that sector.
Between 2005 and 2019, less than 5 percent of Bangladesh’s export growth came from new products. In contrast, the contribution of new products in Vietnam was 41.5 percent, in China 31.9 percent, and in Malaysia 77.7 percent.
The research indicates that Bangladesh has primarily attempted to increase exports by selling larger quantities of the same types of products and has lagged behind in developing new industries and products.
The event was attended by the information minister Zahir Uddin Swapan as the chief guest, and RAPID Chairman Dr MA Razzaque presented the keynote paper.
In his speech as the chief guest, the information minister said, “We’ve no alternative but to face the challenges that will come with LDC graduation. We must structure our economy by prioritising exports.”
He further added that the current government, under the leadership of Tarique Rahman, is committed to incorporating these opinions and suggestions into the future roadmap.