Exhibitor

Bangladesh Readymade Garment Industry – High Market Potential and Tremendous Opportunities

Bangladesh’s garment industry is the largest contributor to the country's foreign exchange, contributing to 77.3 per cent of the nation’s export earnings in 2008. It accounted for 10.5 percent of the country’s GDP, and contributed 40 percent of its manufacturing output.

As the leading garment manufacturer in the SAARC region, Bangladesh is the third largest producer for the European Union and fifth largest producer for the US clothing markets. Despite a challenging year in 2008, Bangladesh exported a total of US$12.2 billion worth of garments. 

 


 
The garment-making industry in Bangladesh is expected to be given a boost with the “New Partnership for Development Act 2007” bill introduced by the US House of Representatives as the bill will facilitate more market access of RMG products from the lesser developed countries into the US market.

As such, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has forecasted that RMG exports will continue to increase despite the current global recession. It has projected an export target of USD25 billion by 2013. To achieve such a target, garment factories are already expanding their textile and garment production facilities.
 
 

Against this backdrop, both BGMEA and Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) are upgrading manufacturing facilities and setting up training centres in Dhaka, Gaibandha, Bogra, Mymensingh, Sirajganj, Tangail and other districts to train more factory workers.