Parvej Husen Talukder: Parvej Husen Talukder moved page Test 1yj2law4 to Garment industry in Bangladesh over redirect

2024-12-24T12:40:13Z

Parvej Husen Talukder moved page Test 1yj2law4 to Garment industry in Bangladesh over redirect

← Older revision	Revision as of 18:40, 24 December 2024
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VK: VK moved page Garment industry in Bangladesh to Test 1yj2law4: Vandalized by Md Sunnat Ali Mollik

2024-12-24T12:10:08Z

VK moved page Garment industry in Bangladesh to Test 1yj2law4: Vandalized by Md Sunnat Ali Mollik

← Older revision	Revision as of 18:10, 24 December 2024
(No difference)

Samiul at 11:40, 15 December 2024

2024-12-15T11:40:43Z

← Older revision		Revision as of 17:40, 15 December 2024
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	\| website = [https://www.bgmea.com.bd Bangladesh Garment Manufacturers and Exporters Association]		\| website = [https://www.bgmea.com.bd Bangladesh Garment Manufacturers and Exporters Association]
	}}		}}

	The '''garment industry in Bangladesh''' is one of the largest contributors to the country’s economy, accounting for around 80% of export earnings and employing over 4.5 million people, most of whom are women. Bangladesh is the world's second-largest exporter of ready-made garments (RMG), after [[China]].<ref>{{cite web \|title=Garment Industry of Bangladesh \|url=https://www.britannica.com/topic/Bangladesh-Garment-Industry \|access-date=December 15, 2024}}</ref>		The '''garment industry in Bangladesh''' is one of the largest contributors to the country’s economy, accounting for around 80% of export earnings and employing over 4.5 million people, most of whom are women. Bangladesh is the world's second-largest exporter of ready-made garments (RMG), after [[China]].<ref>{{cite web \|title=Garment Industry of Bangladesh \|url=https://www.britannica.com/topic/Bangladesh-Garment-Industry \|access-date=December 15, 2024}}</ref>

Parvej Husen Talukder: Created page with "{{Short description|Major industry in Bangladesh, contributing significantly to the economy}} {{Infobox industry | name = Garment Industry in Bangladesh | image = Bangladesh garment factory.jpg | caption = Workers at a garment factory in Bangladesh | country = Bangladesh | main_products = Ready-made garments (RMG): knitwear, woven garments | employees = Over 4.5 million (2023){{cite web |title=Employment..."

2024-12-15T08:14:02Z

Created page with "{{Short description|Major industry in Bangladesh, contributing significantly to the economy}} {{Infobox industry | name = Garment Industry in Bangladesh | image = Bangladesh garment factory.jpg | caption = Workers at a garment factory in Bangladesh | country = Bangladesh | main_products = Ready-made garments (RMG): knitwear, woven garments | employees = Over 4.5 million (2023)<ref>{{cite web |title=Employment..."

New page

{{Short description|Major industry in Bangladesh, contributing significantly to the economy}}
{{Infobox industry
| name = Garment Industry in Bangladesh
| image = Bangladesh garment factory.jpg
| caption = Workers at a garment factory in Bangladesh
| country = Bangladesh
| main_products = Ready-made garments (RMG): knitwear, woven garments
| employees = Over 4.5 million (2023)<ref>{{cite web |title=Employment in Bangladesh Garment Industry |url=https://www.bgmea.com.bd/ |access-date=December 15, 2024}}</ref>
| revenue = $45 billion (2023)<ref>{{cite web |title=Garment Exports of Bangladesh |url=https://www.trademap.org/ |access-date=December 15, 2024}}</ref>
| share_in_gdp = ~11%
| website = [https://www.bgmea.com.bd Bangladesh Garment Manufacturers and Exporters Association]
}}

The '''garment industry in Bangladesh''' is one of the largest contributors to the country’s economy, accounting for around 80% of export earnings and employing over 4.5 million people, most of whom are women. Bangladesh is the world's second-largest exporter of ready-made garments (RMG), after [[China]].<ref>{{cite web |title=Garment Industry of Bangladesh |url=https://www.britannica.com/topic/Bangladesh-Garment-Industry |access-date=December 15, 2024}}</ref>

== History ==
The garment industry in Bangladesh began to emerge in the late 1970s, gaining momentum in the 1980s with favorable trade policies such as [[quota]]-free access to European and North American markets under the [[Multi-Fibre Arrangement]] (MFA).<ref>{{cite web |title=History of Garment Industry in Bangladesh |url=https://www.bgmea.com.bd/page/history |access-date=December 15, 2024}}</ref>

=== Growth and Expansion ===
By the 1990s, Bangladesh became a key player in global apparel manufacturing due to:
* '''Low labor costs'''.
* '''Favorable trade agreements''' such as [[GSP]] (Generalized System of Preferences).
* '''Increasing demand for outsourcing''' by global brands.<ref>{{cite web |title=Growth of Bangladesh's Garment Sector |url=https://www.researchgate.net/Bangladesh-RMG-Industry |access-date=December 15, 2024}}</ref>

== Contribution to the Economy ==
The garment industry plays a vital role in Bangladesh’s economy:
* '''Contributes ~11% to [[GDP]]'''.
* '''Accounts for 45% of industrial employment'''.
* '''Generates $45 billion annually in export earnings (2023)'''.<ref>{{cite web |title=Economic Contribution of the Garment Sector |url=https://www.trademap.org/ |access-date=December 15, 2024}}</ref>

Major export markets include:
* [[European Union]]
* [[United States]]
* [[Canada]]
* [[Japan]]
* [[Australia]]<ref>{{cite web |title=Export Markets for Bangladeshi Garments |url=https://www.bgmea.com.bd/ |access-date=December 15, 2024}}</ref>

== Products ==
Bangladesh produces a wide range of garments, including:
* '''Knitwear''': T-shirts, sweaters.
* '''Woven garments''': Shirts, trousers, denim.
* '''Specialized apparel''': Sportswear, outerwear.

Major buyers include global brands like '''[[H&M]]''', '''[[Zara]]''', '''[[Primark]]''', '''[[Walmart]]''', and '''[[Gap Inc.]]'''.<ref>{{cite web |title=Major Buyers of Bangladeshi Garments |url=https://www.bangladeshtextiletoday.com |access-date=December 15, 2024}}</ref>

== Workforce ==
The industry employs over 4.5 million workers, with women making up about 80% of the workforce. The sector has been instrumental in empowering women and improving their socioeconomic status.<ref>{{cite web |title=Women in Bangladesh's Garment Industry |url=https://www.worldbank.org/en/news/feature/2019/03/08/empowering-women-in-bangladesh |access-date=December 15, 2024}}</ref>

== Challenges ==
Despite its success, the industry faces significant challenges:
* '''Worker Safety''': Incidents like the [[Rana Plaza collapse]] in 2013 exposed safety lapses and led to international scrutiny.<ref>{{cite web |title=Rana Plaza Tragedy |url=https://www.bbc.com/news/world-asia-24458127 |access-date=December 15, 2024}}</ref>
* '''Low Wages''': Although wages have increased in recent years, they remain low compared to other manufacturing countries.
* '''Global Competition''': Competing with other low-cost producers like [[Vietnam]] and [[Cambodia]].
* '''Compliance''': Meeting environmental and social compliance standards.<ref>{{cite web |title=Challenges in the Garment Industry |url=https://www.theguardian.com/global-development/bangladesh-garments |access-date=December 15, 2024}}</ref>

== Initiatives and Reforms ==
In response to challenges, several initiatives have been undertaken:
* '''Accord and Alliance''': International agreements to improve factory safety and working conditions.
* '''Green Factories''': Bangladesh is home to the highest number of green garment factories in the world.<ref>{{cite web |title=Green Factories in Bangladesh |url=https://www.textiletoday.com.bd/green-factories/ |access-date=December 15, 2024}}</ref>
* '''Digitalization''': Implementation of automated production systems and digital tools to improve efficiency.

== Future Prospects ==
The industry aims to achieve $100 billion in export earnings by 2030 by diversifying products, investing in technology, and ensuring compliance with international standards.<ref>{{cite web |title=Future of Bangladesh's Garment Industry |url=https://www.bgmea.com.bd/page/future |access-date=December 15, 2024}}</ref>

== See also ==
* [[Economy of Bangladesh]]
* [[Bangladesh Bank]]
* [[Rana Plaza collapse]]

== References ==
{{Reflist}}

== External links ==
* [https://www.bgmea.com.bd Bangladesh Garment Manufacturers and Exporters Association (BGMEA)]
* [https://www.textiletoday.com.bd Textile Today – Bangladesh Garment News]

[[Category:Garment industry]]
[[Category:Economy of Bangladesh]]
[[Category:Industries in Bangladesh]]
[[Category:Bangladeshi exports]]
[[Category:Textile industry]]

Garment industry in Bangladesh - Revision history

Parvej Husen Talukder: Parvej Husen Talukder moved page Test 1yj2law4 to Garment industry in Bangladesh over redirect

VK: VK moved page Garment industry in Bangladesh to Test 1yj2law4: Vandalized by Md Sunnat Ali Mollik

Samiul at 11:40, 15 December 2024