While we remain in the midst of an economic rebuild, the recent decline in export earnings over the past two months - exports fell by 2.93% in August and recorded a 4.61% decline in September 2025 year-on-year - should serve as a warning sign that we should not take lightly.

While the decline is of some concern, there is cause for optimism as the overall export earnings grew by 5.64% to $12.31 billion during the first three months of the current FY26.

However, as we approach graduation from our least developed country (LDC) status, we are set to forego vital trade privileges that have long supported Bangladesh’s export-driven growth. As such, despite the promise of greater international recognition and economic independence, we must do more to fortify our exports.

This drop also once again underscores the fragility of relying heavily on a narrow range of goods as well as markets, primarily our textiles and garments sectors - it is the impact of US tariffs on our RMG products that is being identified as the primary reason for this dip. 

For decades, our economic ascent has continued to depend largely on the RMG sector, simultaneously fueling employment and foreign exchange earnings. Yet, global market fluctuations, rising production costs, and emerging competition collectively leave us vulnerable to losing market share.

Greater diversification thus is no longer an option but is increasingly essential - both product-wise and market-wise. We have sectors with significant export potential such as  pharmaceuticals, information technology, seafood, and leather goods, alongside emerging green technologies and digital services. It is time to have the right policies and incentives in place, along with the right environment and culture, to nurture these industries to meaningfully contribute to our export earnings.

Watching export earnings closely and embracing diversification today will be investments for our economic sovereignty and prosperity tomorrow.