The government has set an export earnings target of $63.5bn for the 2025-26 fiscal year, aiming for 16.5% growth over last year’s receipts.

Of the total, merchandise exports are expected to bring in $55bn, up 13.4% from $48.28bn in FY25, while services exports have been set at $8.5bn, 18.67% higher than the $7.5bn achieved last year.

Commerce Secretary Mahbubur Rahman announced the figures at a press conference on Tuesday, saying the targets were set after discussions with stakeholders. Commerce Adviser Sk Bashir Uddin, also present, said prevailing conditions had been considered and described the goals as “attainable”.

Product-wise, the targets include $20.79bn for woven garments, $23.70bn for knitwear, $1.85bn for leather and footwear, $1.02bn for home textiles, $1.21bn for agricultural goods, $900m for jute products, and $539m for frozen and live fish.

Mr Bashir said the government is expanding markets for non-traditional products, pursuing FTAs with countries including Japan, South Korea, and Singapore, and negotiating with the US to cut reciprocal tariffs to 15% from the current 20%. He expressed optimism about securing better duty-free access to the UK and EU.

On India’s recent restrictions on imports of four Bangladeshi jute products via land ports, Mr Bashir said the move would not significantly affect exports.

Despite a challenging global trade environment, Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem voiced confidence that the $63.5bn target is achievable.