PROBABLITY OF GARMENT AND CLOTHING INDUSTRY IN BANGLADESH

  The garment a textile both is important industries in Bangladesh and contributes to the GDP of the country significantly. It is considered as the second large exporter of garments and textile. It has grown significantly from 1980 to 2022. Now a number of countries are providing investment to the garment and textile sector. Starting from 2012 to 2018, a growth rate of 60% is observed for export. It is 85% of the country’s total exports. The aim is to earn $50 billion from the sector of garment and textile in the year 2021-2022. Luxury brands are approaching the industry for textile and garment imports. This tends to be a brighter future and probability for the industry.

Figure 1: Appa

                                                     Figure 1: Apparel export trends

(Source: https://i0.wp.com/textilelearner.net/wp-content/uploads/2021/02/bangladesh-rmg-export-growth-trend-2020.jpg?resize=405%2C392&ssl=1)

The geographical location made it possible to export to different countries. It is observed that 65% of the total industry is non-cotton. But, it is to be mentioned that the garment and the textile industry of Bangladesh is cotton based. It is a great opportunity to add uniqueness on the product. Cotton based textiles are more smooth and comfortable for which it is imported by different countries. On the other hand, Bangladesh can enter the non-cotton category with new and unique products which can capture the market easily. Although, the wages are lower in the country, a large number of skilled labours are produced in Bangladesh. There is a probability that with the increasing wages, labours productivity will increase which will also improve the designs. In this way, they can create modern designs in the future.

Figure 2: Bangladesh Garment Exports

(Source: https://www.ft.com/__origami/service/image/v2/images/raw/https%253A%252F%252Fs3-ap-northeast-1.amazonaws.com%252Fpsh-ex-ftnikkei-3937bb4%252Fimages%252F_aliases%252Farticleimage%252F8%252F1%252F1%252F8%252F16428118-1-eng-GB%252F20181030-Bangladesh-Bar-Line.png?source=nar-cms)

The challenges should be also considered for the future. The export market is competitive globally. The price of raw materials is continuously increasing. The workers are demanding fair wages from the companies of textile industry. These challenges make the market hard for Bangladesh in future.