Dhaka: Bangladesh’s external sector demonstrated strong performance and resilience in November 2025 as foreign exchange reserves reached their highest levels of the year, reflecting improved external inflows and effective liquidity management. Remittance inflows were also at a peak, approaching US$ 2.9 billion, signaling robust overseas earnings and increased use of formal transfer channels, which supported foreign exchange availability and macroeconomic stability.
According to Bangladesh Sangbad Sangstha, export earnings, driven primarily by the RMG sector, remained above US$ 3.0 billion, contributing to overall external stability, while non-RMG exports stayed relatively modest but stable, said the December edition of the Economic Update and Outlook, released by the General Economics Division (GED) of the Planning Commission. It said Bangladesh’s overall inflation rose slightly in November 2025 despite a moderation in rice prices, while strong remittance inflows, rising foreign exchange reserves, and stable exports supported external sector resilience.
The report said the combined strength of rising reserves, high remittance inflows, and steady exports in November underscores a positive external sector outlook, although continued reliance on RMG exports highlights the importance of diversification for sustained resilience. The foreign exchange reserves reached an annual peak with enhanced external stability.
In November 2025, Bangladesh’s foreign exchange reserves reached their peak levels for the year, with gross reserves at approximately US$ 32,335 million and BPM6 reserves at US$ 27,578 million. This represents a continued upward trajectory from mid-2025, reflecting strong external inflows, including export earnings, remittances, and possible balance of payments support. The consistent gap between gross and BPM6 reserves highlights the conservative nature of BPM6, which excludes encumbered or non-readily usable assets, providing a more policy-relevant measure of usable reserves. The month-on-month increase from October to November indicates strengthened reserve adequacy, supporting macroeconomic stability and the central bank’s capacity to manage external vulnerabilities.
The high reserve level in November 2025, combined with robust remittance inflows and steady exports, underscores an improved external sector position for Bangladesh and signals enhanced resilience against short-term shocks. The report said Bangladesh’s export earnings reached approximately US$ 3,891.6 million, showing a modest increase from October (US$ 3,823.9 million) and reflecting relative stability in the external sector in November 2025. While export earnings experienced significant fluctuations, the November figure indicates a more stable phase, suggesting that seasonal disruptions and short-term shocks had eased.
The steady export performance in November, supported largely by the ready-made garments (RMG) sector, combined with strong remittance inflows and rising foreign exchange reserves, reinforces Bangladesh’s external resilience. Although overall export levels remain below mid-year peaks, the November 2025 outcome points to a gradual stabilization in external earnings, contributing positively to balance of payments management and macroeconomic stability.
In November 2025, Bangladesh’s export earnings totaled approximately US$ 3,891.6 million, with the ready-made garments (RMG) sector contributing US$ 3,140.9 million and other exports accounting for US$ 750.6 million. RMG exports remain the dominant driver of overall export performance, representing over 80% of total earnings, while non-RMG exports continue to play a smaller but relatively stable role.
The GED also launched a publication titled “Bangladesh State of the Economy 2025,” which analyzed long-term patterns in economic indicators, enabled comparisons across periods, and provided a comprehensive review of the economy’s performance over the past year, with a focus on economic reforms and recovery. When the interim government assumed power, it inherited a fragile economy affected by multiple shocks, including rising inflation, currency devaluation, declining foreign exchange reserves, deficits in both financial and current accounts, high non-performing loans, and lingering effects of macroeconomic mismanagement.
The government has actively worked to restore macroeconomic stability through banking-sector discipline, exchange-rate stabilization, and inflation control, successfully stabilizing the economy, rebuilding confidence in the banking sector, and proposing long-term reform plans. The report provides an overview of the policies implemented and the economic responses observed, to help policymakers adopt short-term economic measures and corrective actions to achieve a more stable and resilient economy.
On the monetary front, bank deposits reached Taka 19,24,635.7 crore in October, registering a year-on-year growth of 9.62 percent, reflecting sustained depositor confidence. Credit growth moderated, with public sector credit growth slowing to 21.43 percent and private sector credit growth easing slightly to 6.23 percent. Total domestic credit growth decelerated to 9.62 percent in October. Weighted average interest rate (WAIR) spreads varied across banking groups. Foreign commercial banks recorded the highest spread at 8.88 percent, while specialized and development banks posted the lowest at 3.37 percent. State-owned and private commercial banks showed similar spreads of around 5.6 percent, a level the GED said is desirable for improving banking sector efficiency.
Revenue collection by the National Board of Revenue (NBR) fell short of the monthly target in November 2025, although it posted double-digit year-on-year growth. The report said Annual Development Programme (ADP) utilization improved year-on-year during July-November of FY2025-26.