The Clothing Industry of Bangladesh Article

THE GARMENT INDUSTRY OF BANGLADESH

Introduction:

The garment sector has played a groundbreaking role inside the development of industrial sector of Bangladesh. Although it took an extremely late begin i. e., in 1976 but it soon established their reputation in the world market in a short span of time. Resultantly garment is now one of the main foreign trade items of the nation. Besides, improving the country's economy it includes played a very important role in alleviating joblessness. At present there are more than two thousand 100 garment industries in the country utilizing more than 12 lack labors. 85 percent of the work force is ladies.

Once Sri-Lanka was innovator in this discipline in Southern Asia and India was its competitor. After a weakling civil conflict resulting in the quick demise of the clothes industry of Sri-Lanka and India, the international purchasers and buyers diverted their very own attention to Bangladesh. As a result the garments market of Bangladesh expanded with unprecedented achievement. During the financial year 1993-94 Bangladesh gained 6199. 8 cores Taka.

Contribution in the national overall economy

The function of the RMG sector in our national economic climate can rarely be over-emphasized. There has been a steady development in our RMG export field during at least the last 10 years and a half but in the last few years it has been exceptional. The export of RMG recorded a normal growth of twenty-one. 53% since 1994-95, which in turn grew to 76. 05% by the season 1999. The table, has bellow elaborates the growth. Progress the Export of RMG Sector

YEARExport of RMG (in Mln. US$)Total Foreign trade (in Mln. US$)Share of RMG's to Total Export 1993-941555. 792533. 9061. 40

1994-952228. 353472. 5664. 17

1995-962547. 133882. 4265. 61

1996-973001. 254418. 2867. 93

1997-983781. 945161. 2073. 28

1998-994019. 985312. 8675. 67

19992810. 383695. 4676. 05

Supply: Bangladesh Export Statistics, Export Promotion Bureau (EPB) (Compiled). The table below really helps to understand the situation more evidently. Development of the Export (in Million Taka) of different Sectors from 93 to 1999 Commodities1993-941994-951995-961996-971997-981998-99

Amount%Amount%Amount%Amount%Amount%Amount%

Woven51 forty seven. 2150. 977360. 5352. 857970. 6550. 209529. 1850. 6512900. 1855. 0914320. 8056. 18 Knit1052. 5810. 421577. 3711. 322447. 1215. 413250. 1117. 284266. 1718. 224967. 6719. 49 Total RMG6199. 7961. 408937. 964. 1710417. 7765. 6112779. 2967. 9317166. 3573. 3119288. 4775. 67 Frozen Food638. 918. 311225. 938. 801283. 018. 08365. 657. 261333. hundratrettiofem. 691316. a hundred seventy five. 16 Tea152. 141. 51131. 540. 94135. 510. 85162. 390. 8621 5. fish hunter 360. 92184. 990. 73 Organic Jute227. 232. 25318. 742. 29371. 122. 34495. 292. 63488. 942. 09344. 141. 35 Chemical Product21 six. 732. 15431. 653. 10402. 682. 54461. 892. 46363. 211. 44380. 191. 49 Leather670. 166. 64810. 525. 82865. 865. 45832. 354. 42863. 213. 69807. 203. 17 Jute1130. 8911. 201278. 629. 181345. 298. 471353. 457. 191276. 825. 451457. 785. 72 Grand Total10097. 59100. 0013928. 46100. 0015879. 09100. 0018813. 04100. 0023416. 37100. 0025491. 10100. 00

Source: Bangladesh Export Figures, Export Promotion Bureau (EPB) (Compiled). Back in the 80s, a large number of private sector initiatives had been taken in making sectors just like the RMG industry. The RMG industry provides enjoyed a meteoric rise from below 50 industries in 1983 to over 3 thousands in 1999. Between this period, the degree of employment has increased from several 10, 1000 to about 1 . 5 million today (see Desk: 3); with its share of employment inside the manufacturing market increasing by a mere 2% to over 15%. A table is given bellow, The number of the factories

Year19831987199119951999

No . of Factories5062993422683000

Supply: Bangladesh Figures, EPB

The issues behind the large success

The success tale of the Readymade Garments sector of Bangladesh is based on work generation and increasingly high value addition, as a result smoothening the way for expansion and...