Impact of Garment Industries on the Economy of Bangladesh

1435 Words6 Pages
The Impact of garments industries on the economy of Bangladesh: Introduction: Bangladesh is currently one of the 12 largest exporters of garments products in U.S.A and U.K. In spite of this, the real situation does not come in front of the world. That is they are not becoming influenced like before any more. We can see this by the price level of our garments products in the world market. The quantity we are exporting is huge but at a very low price. In the statistics the impact may be huge but the condition of Bangladesh is not improving at that satisfactory level. In the term paper we will try to define the cause why the real situation is like this. It is necessary because the sector is very promising in the environment of bbangladesh.…show more content…
Empirical section: • Current position of garments industries of Bangladesh in the world market as a exporter: Though Bangladesh is an agricultural country, the GDP (Gross domestic Product) is captured mostly by garments industries. A huge portion of the total export earnings is earned by this sector. That is why Garment products are on the top of the items that are exported in various countries from Bangladesh. Until 1980 jute goods were on the top. After then, substitute of jute goods came to the market and took the lead. Figure 1: Major export Products | | |Value in Million US$ | |Year |Product |Export | % | |2008-09 |RMG |12347.77 | 79.33 | | |Frozen Food |454.53 | 2.92 | | |Tea |12.29 | 0.08 |
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