Bangladesh Garment Industry have been growing steadily in recent years, with ready made garments and knitwear, leather goods, frozen fish and seafood, jute and jute goods, pharmaceuticals, ceramics, handicrafts, and light engineering goods being the main products. The country has a young and rapidly growing population, which is a key factor in its strong export growth. Bangladesh is also benefiting from preferential trade agreements with a number of countries, including the United States, which gives it duty-free access to the US market for a number of its products.
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Bangladesh garment industry statistics 2021
The Bangladesh garment industry is one of the largest in the world, employing around 4 million people and accounting for around 10% of the country’s GDP. The industry has been growing rapidly in recent years, with exports reaching $34 billion in 2020 – up from $19 billion in 2010.
The industry has been helped by a number of factors, including cheap labor costs, a large pool of skilled workers, and preferential trade agreements with major markets such as the European Union and the United States.
However, the industry has also been plagued by a number of problems, including poor working conditions, low wages, and a lack of government regulation. These problems came to light in 2013 after the Rana Plaza factory collapse, which killed over 1,100 workers.
The Bangladesh government has since introduced a number of reforms to improve conditions in the garment industry, including raising the minimum wage and introducing safety inspections. However, many workers still earn below a livable wage and conditions remain poor in many factories.
The Bangladesh garment industry is expected to continue growing in the coming years, as global demand for clothing remains high. However, the industry faces a number of challenges, including the need to improve working conditions and increase wages
Bangladesh Garment Export Statistics 2020
According to the Bangladesh Garment Export Statistics 2020, the country’s garment exports have increased by 8.6% in the last fiscal year. This is due to the growing demand for Bangladesh-made garments in the international market. The United States is the largest market for Bangladesh’s garment exports, accounting for 26.4% of the country’s total exports. Other major markets include the European Union (15%), Canada (9%), and Japan (8%).
The Bangladesh garment industry has been growing at a rapid pace in recent years, thanks to the country’s low labor costs and its abundant supply of skilled workers. The industry employs more than four million workers, most of whom are women. In addition to the garment sector, Bangladesh’s economy is also driven by the export of other products, such as jute, rice, and seafood.
Bangladeshi knit garments exporter ranking
1. Bangladesh is the second largest exporter of ready-made garments (RMG) in the world.
2. Bangladesh is the world’s third largest garment producer.
3. Bangladesh’s garment exports have grown rapidly in recent years, and the sector now accounts for around 80% of the country’s total exports.
4. Bangladesh is the world’s fourth largest producer of cotton.
5. The garment industry is the largest employer in Bangladesh, with around 4 million workers employed in the sector.
6. The minimum wage for garment workers in Bangladesh is among the lowest in the world.
7. Bangladesh has a large pool of young, low-cost labour which is one of the main factors that has attracted foreign investors to the country’s garment sector.
8. Bangladesh has a large and growing domestic market for garment products.
9. The country has a number of Free Trade Zones (FTZs) which offer special incentives for foreign investors, including duty-free import of raw materials and export of finished products.
10. Bangladesh has a number of bilateral and regional trade agreements which provide preferential market access for its garment exports.
Present Situation Of RMG Sector In Bangladesh 2022
In the last few years, the ready-made garments (RMG) sector in Bangladesh has been facing a number of challenges. The most recent and significant challenge is the Covid-19 pandemic which has affected the sector in a number of ways.
The first and most obvious impact of the pandemic has been the loss of orders from buyers, as global demand for garments has fallen sharply. This has led to widespread layoffs and factory closures in the RMG sector, with an estimated two million workers losing their jobs.
The second impact of the pandemic has been on the supply of inputs into the sector. With factories around the world shutting down, the supply of inputs such as fabric and yarn has been disrupted, leading to shortages and delays in production.
The third impact has been on the ability of workers to physically get to work. With the lockdown in Bangladesh, many workers have been unable to get to work, leading to further losses for the sector.
The fourth impact has been on the mental health of workers. The stress of the pandemic, combined with the fear of losing their jobs, has led to widespread anxiety and depression among workers in the RMG sector.
Bangladesh Garment Industry Statistics 2019
According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the country’s apparel industry employs around 4 million people, of which 85% are women.
The industry contributes around US$28 billion to the national economy, making it the country’s largest export earner.
In 2019, the BGMEA estimates that the industry will grow by around 7% to reach US$30 billion in exports.
The United States is the largest market for Bangladeshi apparel, accounting for around 26% of all exports. Other major markets include the European Union (19%), Germany (8%), and the United Kingdom (6%).
The BGMEA estimates that the industry provides direct employment to around 2.5 million people, and indirect employment to another 1.5 million.
In addition to its economic contribution, the industry is also an important source of social mobility for Bangladesh’s large rural population.
Around 80% of garment factory workers are women, many of whom are the sole breadwinners for their families.
The industry has been praised for its role in empowering women and providing them with opportunities for economic advancement.
The BGMEA estimates that the industry
World’s Top Exporter of Clothing – Made in Bangladesh
1. Cotton fabrics
2. Jute and jute products
3. Textile garments
4. Carpets and floor coverings
5. Home furnishings
6. Made-up articles
7. Textile raw materials
Textile Industry In Bangladesh 2021
The textile industry in Bangladesh is one of the most important industries in the economy, accounting for over 15% of the country’s total exports. The industry employs over 4 million people, making it the second largest source of employment in the country. The sector is also a major contributor to the country’s GDP, accounting for around 2.5%.
The textile industry in Bangladesh has been growing rapidly in recent years, due to a number of factors. Firstly, the country has a large population of over 160 million, which provides a large pool of potential workers. Secondly, the wages in Bangladesh are relatively low compared to other countries in the region, making the country an attractive destination for foreign investors. Thirdly, the government has been supportive of the industry, providing a number of incentives to encourage investment.
As a result of these factors, the textile industry in Bangladesh has grown rapidly in recent years. In 2010, the country’s exports of textiles and clothing were worth around $12 billion. This figure is expected to grow to around $30 billion by 2021.
The growth of the textile industry in Bangladesh has had a number of positive impacts on the economy. Firstly, it has created jobs for millions of people, helping to
Rmg Sector In Bangladesh 2020
The ready-made garments (RMG) sector in Bangladesh is one of the most important sectors in the country’s economy, accounting for more than 80% of the country’s export earnings. The sector employs more than 4 million workers, of whom around 85% are women.
The RMG sector has been a key driver of economic growth in Bangladesh over the past two decades, with exports growing at an annual rate of around 20%. Bangladesh is now the second-largest exporter of garments in the world, after China.
The RMG sector has been facing challenges in recent years, due to a number of factors including the global economic slowdown, competition from other low-cost garment-producing countries, and rising costs in Bangladesh.
Despite these challenges, the RMG sector is still expected to grow in the coming years, as Bangladesh’s garment exports are expected to benefit from the increasing demand for clothing from emerging markets such as India and China.
Which Garments Products Are Exported From Bangladesh?
There are a number of garment products that are exported from Bangladesh. These include shirts, pants, shorts, skirts, and dresses. Bangladesh is one of the leading exporters of garment products in the world.
What Clothing Item Is Bangladesh Largest Export?
According to the World Trade Organization, Bangladesh’s largest export is clothing. In 2013, the country exported $19.9 billion worth of clothing, making it the second-largest exporter of clothing in the world behind China. Bangladesh’s clothing exports have grown rapidly in recent years, increasing from $5.4 billion in 2005 to $19.9 billion in 2013. The vast majority of Bangladesh’s clothing exports are shipped to the United States and Europe.
What Are The Major Exports Of Bangladesh?
Bangladesh’s major exports include textiles and garments, jute and jute goods, leather, frozen fish and seafood, and ready-made garments. The country also exports significant amounts of rice, wheat, tea, sugar, tobacco, and spices. In recent years, Bangladesh has also begun exporting information technology services, particularly to the United States.
How Much Of Bangladesh Exports Are Garments?
The garment industry is Bangladesh’s largest export sector, accounting for more than 80% of the country’s total exports in 2016. Bangladesh is the second-largest exporter of garments in the world, behind only China. The garment industry has been a major source of economic growth for Bangladesh since the early 1990s.
The vast majority of Bangladesh’s garment exports are shipped to the United States and Europe. In 2016, the United States was the largest market for Bangladeshi garments, accounting for 28% of all exports. Europe was the second-largest market, accounting for 27% of exports. Other important markets for Bangladeshi garments include Canada, Japan, and Australia.
The garment industry plays a vital role in the Bangladeshi economy. It is one of the country’s largest employers, with more than four million workers. The industry also generates significant foreign exchange earnings, which help to boost the Bangladeshi economy.
Conclusion
Based on the information given, it can be concluded that Bangladeshi exporters mainly export ready made garments and knitwear. This is likely due to the fact that Bangladesh has a large textile industry, which employs a significant portion of the country’s workforce.
