The Scenario of RMG sector in Bangladesh

There are a lot of Countries in this world those are produced garments in the garments factories in an industrial basis for all people of those specific country.  Among them Bangladesh is one of them which is producing garments and exporting in the world market. In Bangladesh the history of RMG sector is began by Riaz Garments in 1970 at old Dhaka. At present, there are about 4800 Garment factories in Bangladesh. It’s a point to note that the growth of garments factories started around in the decade of 80’s. But it’s a matter of sorrow that around in the decade of 80 garment production and export business was almost unknown us. That’s why we have been faced a lot items. Besides foreign currency earning was started in 1980-81 with starting figure US $ 3.24 million which was not sufficient in the percentage of total currency earnings. Meanwhile, Bangladesh exported RMG products worth $3.03 billion in the first three months (July-September) of the current fiscal year compared with $3.35 billion in the same period last year. The target for knitwear export was fixed at $7.29 billion in fiscal 2009-10 against the achievement at $6.429 billion in 2008-09. In case of woven, the export target was fixed at $6.68 billion for the current fiscal year against $5.91 billion earned in 2008-09, the EPB said. (Source: Daily Star, Tuesday 09, 2010).

Now RMG Sector of Bangladesh is producing and exporting a lot of items such as- Shirt, Trouser, Jacket, Sportswear, T-Shirt, Polo Shirt, Ladies wear, Sweater, Socks, hat etc. which are exported in USA, Canada, EEC, Japan, Australia, Middle-East and many other countries of the world. All the Buyers of the above countries are coming in Bangladesh. Now Bangladesh has become one of the important and competitive garments exporting country in the world Market. Say Why???? There is only one reason to invest in this country’s garments sector. That is the cheapest labor cost, which is the most important advantage for the garments producers and exporters of this country.

You know? Bangladesh is the country which has a lot of prospects to develop. Because, here CM cost is minimized by low labor cost. Here, Huge number of people both man and woman are working for both forward linkage and backward linkage. But the needed of skilled and educated manpower is increased day by day. It’s a matter of sorrow that Bangladesh has not sufficient with skilled and educated manpower. It will be a great challenge for Bangladesh to survive as an exporter in the world market with those types of manpower. But it remains true that the growth of garment industry in Bangladesh is satisfactory. 

To be continued