Changes in combination of Export Products over time
The entrepreneurs of the knit sector stepped forward with their expertise in the late 80's. With their earnest efforts they were able to export US$ 14.84 million in 1989-90. Out of this, US$ 12.22 million was exported to EU and US$ 2.02 million was exported to US. The trend continued in the knit sector because of the market access opportunities provided to the LDCs under the Generalized Systems of Preference (GSP) benefit.
This is the rejuvenated beginning of the epic story of Bangladeshi knitwear sector that in true sense has been possible due to massive industrialization in a sustainable way with effect on all probable human development aspects which is the encouraging part of the story.
The growth of knitwear sector is increasing at an increasing rate. The cumulative average growth rate of the sector is 20%. And it is continuously grabbing more portions in the export pie of Bangladesh. This is mainly attributed to the facilities provided under the EC GSP and ROO. The knitwear sector is heavily driven by the favorable policies and took the opportunity to develop a...