Bangladesh's export value experienced significant growth from 1990 to 2023, driven primarily by the rapid expansion of its garment industry. In 1990, exports stood at $1.67 billion, rising steadily during the 1990s as the country capitalized on competitive labor costs and favorable trade policies. By 2000, exports had grown to $6.39 billion, reflecting the increasing demand for ready-made garments in global markets. Key factors included government support for export-oriented industries and the establishment of Export Processing Zones (EPZs).
The export value surged in the 2000s, reaching $24.4 billion by 2011, fueled by diversification in textile products and consistent demand from Western markets. However, exports saw a temporary decline during the COVID-19 pandemic in 2020, falling to $33.6 billion as global supply chains were disrupted. Recovery was swift, with exports rebounding to $55.7 billion by 2023, supported by strong demand for sustainable and high-quality apparel, alongside government initiatives to modernize the sector and diversify export portfolios.
Gain a broader perspective by reviewing Bangladesh’s trade balance in goods, Bangladesh’s population growth, Urbanization rate in Bangladesh.
