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    Report On RMG Sector of Bangladesh

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    Fida Al Hasan
    The number of garment factories in Bangladesh increased until 2013-2014, when many were shut down due to safety issues following the Rana Plaza collapse. Exports grew steadily until 2019-2020, when the pandemic caused a 18% drop in exports. Ready-made garments make up the majority of Bangladesh's total exports, accounting for 78-84% between 2011-2019. Woven garments are generally exported more than knit garments, though both saw growth until being impacted by the pandemic in 2020.

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    Report On RMG Sector of Bangladesh

    Uploaded by

    Fida Al Hasan
    23 views6 pages
    The number of garment factories in Bangladesh increased until 2013-2014, when many were shut down due to safety issues following the Rana Plaza collapse. Exports grew steadily until 2019-2020, when the pandemic caused a 18% drop in exports. Ready-made garments make up the majority of Bangladesh's total exports, accounting for 78-84% between 2011-2019. Woven garments are generally exported more than knit garments, though both saw growth until being impacted by the pandemic in 2020.

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    Report on RMG Sector of Bangladesh

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    The number of garment factories in Bangladesh increased until 2013-2014, when many were shut down due to safety issues following the Rana Plaza collapse. Exports grew steadily until 2019-2020, when the pandemic caused a 18% drop in exports. Ready-made garments make up the majority of Bangladesh's total exports, accounting for 78-84% between 2011-2019. Woven garments are generally exported more than knit garments, though both saw growth until being impacted by the pandemic in 2020.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views6 pages

    Report On RMG Sector of Bangladesh

    Uploaded by

    Fida Al Hasan
    The number of garment factories in Bangladesh increased until 2013-2014, when many were shut down due to safety issues following the Rana Plaza collapse. Exports grew steadily until 2019-2020, when the pandemic caused a 18% drop in exports. Ready-made garments make up the majority of Bangladesh's total exports, accounting for 78-84% between 2011-2019. Woven garments are generally exported more than knit garments, though both saw growth until being impacted by the pandemic in 2020.

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    © All Rights Reserved
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    of 6

    Report

    On

    RMG Sector of Bangladesh


    Industry Development (Factory)

    Factory Numbers
    7,000

    6,000

    5,000

    4,000

    3,000

    2,000

    1,000

    0
    2010- 2011- 2012- 2013- 2014- 2015- 2016- 2017- 2018- 2019-
    2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

    The number of total factories in the RMG industry was increasing until the fiscal year 2013-
    2014, when the government took the initiative to shut down a mass number of factories because
    of tragic incident of Rana Plaza crash. After receiving backlash from the international
    community, Bangladesh government decided to shut down a lot of factories for lack of safety
    measures. The number of factories were reduced from 5876 to 4222 in fiscal year 2013-2014.
    The numbers have been increasing since then but at a slow rate. In 2019-2020, the number of
    factories stand at 4692.
    RMG Export Trend

    RMG Exports (in US dollars)


    35,000,000,000

    30,000,000,000

    25,000,000,000

    20,000,000,000

    15,000,000,000

    10,000,000,000

    5,000,000,000

    0
    2010- 2011- 2012- 2013- 2014- 2015- 2016- 2017- 2018- 2019-
    2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

    The RMG industry has seen a steady growth since the fiscal year 2010-2011 to 2018-2019.
    Bangladesh RMG exports went from 17,914,461,000$ in 2010-2011 to 34,133,269,999$ in
    2018-2019. Exports drastically plummeted in 2019-2020 to 27,949,190,000$, a whooping
    18.12% lower than the previous year. The global pandemic hit that year which meant many
    countries shut down their borders and because of that Bangladesh couldn’t export to many of
    their partners. If it wasn’t for the pandemic, export of RMG sector would have kept growing.
    RMG exports in contrast to Total Exports

    Chart Title
    45,000,000,000

    40,000,000,000

    35,000,000,000

    30,000,000,000

    25,000,000,000

    20,000,000,000

    15,000,000,000

    10,000,000,000

    5,000,000,000

    0 2011
    1
    2012
    2
    2013
    3
    2014
    4
    2015
    5
    2016
    6
    2017
    7
    2018
    8
    20199 202010

    RMG Exports (in US dollars) Total Export Of Bangladesh (US dollar)

    In the year 2011 RMG exports were 78.00 % of total exports and it kept increasing until 2020.
    RMG exports grew from 78% to 84% of total exports from 2011-2019. So, it can be said that
    RMG sector plays a huge role when it comes to export industry of Bangladesh. If the RMG
    sector suffers, then export industry of Bangladesh will also suffer.
    RMG industry’s Exported Materials

    Chart Title
    2011 13,908,000,000
    14,041,190,000
    2012 16,888,540,000
    17,244,730,000
    2013 15,188,510,000
    15,426,250,000
    2014 13,757,250,000
    14,392,590,000
    2015 13,355,420,000
    14,738,740,000
    2016 12,426,790,000
    13,064,610,000
    2017 12,049,810,000
    12,442,070,000
    2018 10,475,880,000
    11,039,850,000
    2019
    9,486,390,000
    9,603,340,000
    2020
    9,482,060,000
    8,432,400,000
    0 5,000,000,000 10,000,000,000 15,000,000,000 20,000,000,000

    Knit Exports (in US dollars) Woven Exports (in US dollars)

    The RMG industry produces clothes in two ways which are knit and woven. In the year 2011
    woven exports were 8,432,400,000$. It kept increasing to the year 2019 when it became
    17,244,730,000$. After the pandemic hit the number decreased to 14,041,190,000. In contrast
    knit exports have also been increasing until the pandemic hit. When it comes to export, Woven
    products are more favorable as it has always exported more except for the year 2011.
    References: www.bgmea.com.bd

    https://www.statista.com/statistics/987697/bangladesh-number-garment-factories/

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