Prospects Of Garment Industry In Bangladesh
1. Financial Prospect:
Over the last fifteen years or so the garments industries have emerged as the largest source of earning foreign currency.
2.5 In the industry sector, which contributed 29.7 percent of GDP, growth rate slowed down from 6.8 percent of FY08 to 5.9 percent in FY09. Within this sub-sector knitwear, rice milling, dairy products, leather products, footwear, embroidery, wooden furniture, paper and paper products, nonmetallic mineral products etc. showed substantial growth in the first six months of FY09.
Despite global economic rescission, woven garments and knitwear, the country's key export industry, showed substantial growth in FY09. Exports of woven garments and knitwear achieved 14.5 and 16.2 percent growth respectively during FY09. [To illustrate these topics more specifically we can use the references of previous table no.: 3 & 4 of page no.: 05 & 06.]
According to Export Promotion Bureau (EPB), Bangladesh, during the FY-2008-2009, contribution of the major export items were Ready made garment (Knit-41.31%, Woven-38.02%).
In the July-November period of the current fiscal year, Bangladesh exported woven garments worth $2.13 billion and knitwear items of $2.59 billion, with the share of garments in national exports increasing.
The share of RMG products reached 77.17 percent in the July-November period from 77.15 percent in July-October of the current fiscal year.
The share of woven garments in the total exports of the country was 34.84 percent and that of knitwear (including sweater) was 42.34 percent.
2. Employment Prospect:
After the emergence of Bangladesh radical change has come to our garment sector. Garment industries started working from the 10's of the late century. At present there are about 3500 garment industries in the country and 80 percent of them are in Dhaka. The rest are in Chittagong and Khulna. These Industries have employed fifty lacks of people and 90 percent