NBR data: Bangladesh’s goods exports fall nearly 20pc in March
Despite record remittance inflows in March amid the Iran–Israel–US war, Bangladesh’s goods exports, another major source of foreign currency earnings, have continued to lag for several months. In March alone, exports declined by nearly 20 per cent.
Exporters across various sectors cite a shortened production period due to the recent Eid-ul-Fitr holidays, which reduced the number of working days in factories by 8–10. Consequently, fewer goods reached ports for shipment.
Additionally, they said, since the implementation of the United States’ reciprocal tariffs last year, purchase orders from the US have fallen. European markets have similarly seen a reduction in orders, as Chinese exporters, seeking to avoid higher US tariffs, offer lower prices to European buyers while taking larger orders, indirectly limiting Bangladesh’s export volume.
In March, the country exported 4.2 billion kilograms of goods, valued at US$3.396 billion (Tk 41,669 crore). By comparison, March of the previous year saw exports worth $4.233 billion. This represents a 19.78 per cent year-on-year decline for the month.
These figures have been released by the National Board of Revenue (NBR). The Export Promotion Bureau (EPB) had not yet published its March export data as of Wednesday; EPB relies on preliminary data collected from NBR.
Customs duties are applied prior to goods export, and only after all procedures are completed is the data recorded in NBR’s database.
NBR statistics include three types of exports: domestic exports (supply of raw materials and equipment to export-oriented enterprises within the country), sample exports, and actual exports.
According to EPB, exports had risen by nearly 25 per cent in the first month of the 2025–26 fiscal year (July). However, exports have fallen every month since. In February, exports totalled $3.5 billion, a 0.5 per cent decline compared to the same period last year.
More than 80 per cent of Bangladesh’s goods exports consist of ready-made garments. Consequently, any slowdown in this sector significantly impacts overall exports. Ready-made garment exports have declined consecutively for seven months from August to February.
When contacted, Mohammad Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told Prothom Alo that since the imposition of reciprocal tariffs by the Trump administration, purchase orders first from the US and later from the European union have decreased, causing a persistent decline in exports.
He added that ongoing conflicts in the Middle East are further suppressing orders.
In response to another question, Hatem Ali noted that diesel shortages are constraining factory production and emphasised that priority must be given to supplying fuel to the industrial sector.
On 28 February, the US and Israel jointly carried out a strike on Iran. In retaliation, Iran targeted US bases in Israel and other Gulf countries. The outbreak of conflict across the Middle East has sharply reduced Bangladesh’s exports of vegetables and processed agricultural goods to the region.
Syed Mohammad Shoaib Hassan, General Secretary of the Bangladesh Agro-Processors’ Association (BAPA), told Prothom Alo that processed food exports to the Middle East stopped immediately after the outbreak of war. Only a limited quantity of goods has begun moving to the UAE and Saudi Arabia over the past two to three days.
According to him, shipping companies are charging an additional risk fee of $3,000–5,000 per container, making the exports of processed food financially unsustainable.
Unless the conflict ends, the situation will not improve, Syed Mohammad Shoaib Hassan concluded.
EPB data indicate that in the first eight months of the 2025–26 fiscal year (July–February), Bangladesh exported goods worth $31.91 billion, a 3.15 per cent decline compared to the same period last year.
In contrast, exports grew by 10.63 per cent over the same period in the 2024–25 fiscal year.