The Ready Made Garments “RMG” sector has emerged as the biggest earner of foreign currency only for Bangladesh. The RMG sector has experienced an exponential growth since the 1980s. The sector contributes significantly to the GDP. 1950 was the beginning of RMG in the Western world. In order to control the level of imported RMG products from developing countries into developed countries. In the Bangladesh 1980s, there were only 50 factories employing only a few thousand people. At this time USA is the largest importer of Bangladeshi RMG products, followed by Germany, UK, France and other E.U and others countries. Bangladesh must address a number of challenges if it is to continue current strong development in garment exports, according to a new report from The World Bank.
Bangladesh apparel exports are rising, primarily because the country is eating into the shares of neighbouring China and India. Exports from Bangladesh are being driven by demand from major textile importing regions such as the US and Euro zone. Currently, China is facing high labour costs, and this is working in Bangladesh favor. The study attempts to quantify the very role that RMG plays in the economy of Bangladesh. It also attempts to quantify the contribution of the RMG sector in the social metamorphosis of the country, such as women empowerment, population control, education, environmental awareness, and elimination of child labour which contributed to overall improvement in the Human Development Index “HDI” indicators of Bangladesh.
Manufacturing & exporting all types of readymade garments (fresh order and stock lot in Bangladesh). Woven- Trousers, Shorts, Jackets, Fleece Jackets, Pajamas, Night Wears, Duster. Denim Trousers, Children Wear, Cargo Pant, Denim Pant & Shirt etc. Knit- T-shirt, PQ Polo shirt, pull over, jeans pant, twill pant etc. Sweater- any kinds of sweater. Presently exporting to uk, usa, canada, spain, germany, denmark, china, hongkong from Bangladesh. Readymade garments are the largest export industry and determine the dynamics of total export earnings for Bangladesh RMG is still growing at a satisfactory rate.
The Ready-Made Garments (RMG) industry occupies a unique position in the Bangladesh economy. It is the largest exporting industry in Bangladesh, which experienced phenomenal growth during the last few years. By taking advantage of an insulated market under the provision of Multi Fiber Agreement (MFA) of GATT, it attained a high profile in terms of foreign exchange earnings, exports, industrialization and contribution to GDP within a short span of time. The industry plays a key role in employment generation and in the provision of income to the poor. Nearly million of workers are directly working in this industry. The sector has also played a significant role in the socio-economic development of the country.