Garments & Apparels –
The textile and clothing industries provide the single source of growth in Bangladesh’s rapidly developing economy.  Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh’s total merchandise exports.  In 1972, the World Bank approximated the gross domestic product (GDP) of Bangladesh at USD 6.29 billion and it grew to USD 173.82

billion by 2014, with USD 31.2 billion of that generated by exports, 82% of which was ready-made garments.  As of 2016 Bangladesh held the 2nd place in producing garments just after China.

Bangladesh is the world’s second-largest apparel exporter of western (fast) fashion brands. Sixty percent of the export contracts of western brands are with European buyers and about forty percent with American buyers. Only 5% of textile factories are owned by foreign investors, with most of the production being controlled by local investors. In the financial year 2016-2017 the RMG industry generated US$28.14 billion, which was 80.7% of the total export earnings in exports and 12.36% of the GDP; the industry was also taking on green manufacturing practices.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is a recognised trade body that represents export oriented garment manufacturers and garment exporters of the country. The fundamental  objective of BGMEA is to establish a healthy business environment for a close and mutually beneficial relationship between manufacturers, exporters and importers, thereby ensuring steady growth in the foreign exchange earnings of the country.

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