Ready Made Garments (RMG) Sector at a glance
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- World textiles and clothing industry was worth USD 527 billion in 2009 while Bangladesh exported USD 12.75 billion making up 79.33% of its total exports.
- Bangladesh Export Promotion Bureau forecasts more than USD 16 billion export in this fiscal year and USD 25 billion by 2013.
- The revised Rules of Origin (RoO) adopted by the European Commission, effective since 1 January 2011, allows Bangladesh to continue enjoying GSP advantages even for the imported primary materials like fabrics.
- Germany imported more than 11% of total textiles and clothing export from Bangladesh for the period of April – September 2010 and is the largest importer of woven items.
- Knitwear is the leading export-earner at USD 6.41 billion, followed by woven wear of USD 5.92 billion and textiles and other products of USD 0.42 billion.
- It is estimated that the RMG sector contributes 11-15% to GDP of Bangladesh adding 38% of value to the industrial sector.
- Around 4.5 million workers are employed in the textiles and clothing industry of which 80% are women.
- The success of the export-oriented clothing industry can be attributed to four key factors: (a) quality, (b) price, (c) lead-time and (d) reliability.
- Key investment opportunities in the sector lie in the Primary Textile Sector to strengthen backward linkages in the garment accessory industry and in exporting Bangladeshi branded apparel.
- Investments in textile and fashion design training institutes and diversification into manufacture of niche clothing items would provide positive impacts on the sector.
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Up-to-date version of the full report is available for purchase.