Bangladesh's export trade is now dominated by the ready-made garments (rmg) industry in 2012 bangladesh’s garment exports – mainly to the us and europe – made up nearly 80% of the country’s export income by 2014 the rmg industry represented 8113 percent of bangladesh's total export. The role of our rmg entrepreneurs, domestic fiscal and financial, institutional policy support and incentives put in place by successive governments, substantial rmg-supportive linkage activities within the domestic economy and global market opportunities combined to create a story which is, to be honest and true, unparallel in the developing world. Rmg sector contributes more than 13% of gdp of bangladesh the rmg sector helps for alleviating poverty frombangladesh by offering jobs to males and females for improving gdp and earning 80% of foreign currency of total export earnings to the economic contribution, where the role of female garments worker are enormously important.
The role of the rmg sector in our national economy can hardly be over-emphasized there has been a steady development in our rmg export field during at least the last decade and a half but in the last few years it has been unique the export of rmg recorded an average growth of 2153% since 1994-95.
Most of the rmg factories are situated in dhaka, chittagong, narayangong, dhaka export processing zone (epz), chittagong epz and gazipur industrial area in the above background, an attempt has been made in the paper to overview the garment industry in bangladesh in order to assess its role in the socio economic development of bangladesh ii. Readymade garments are the largest export industry and determine the dynamics of total export earnings for bangladesh rmg is still growing at a satisfactory rate there is no strong indication of any negative impacts of the global economic crisis on rmg as of today, but the future continues to be unpredictable. Impact of garments industry in bangladesh economy to evaluate the econonlic in1pacts of [th1g sector in rmg macro contribution to the economy 35 rmg vs other sector contribution to the economy 36 assistance of bangladesh government to the industry plays a key role in employment generation. Overview of rmg sector in bangladesh : the export-oriented rmg sector has made crucial contribution to this transformation of the bangladesh economy the role of our rmg entrepreneurs, domestic fiscal and financial, institutional policy support and incentives put in place by successive governments, substantial rmg-supportive linkage activities.
A study by md salim uddin and mohammed abu jahed (2007) revealed that how the rmg sector is contributing as prime mover of the socio economic development of bangladesh according to them, the garments industry has been leading the bangladesh economy since the early 1990s.
Much of the tremendous growth of the sector and its role as an economic powerhouse for the country is attributed to the availability of cheap labor of the four million workers employed by the rmg industry, 85% are illiterate women from rural villages. Role of ‘buying house’ in bangladesh rmg industry because it is fully related with their next budget planning so the local buying house is main player who play a vital role in the bangladesh rmg sector for the foreign buyers higher wages can improve india’s economic growth technical developer september 21, 2015 may 29, 2017. Advantage of the economy (bakht, 1993) in such a context, a least developed, resource poor, labor surplus country like bangladesh, garment industry has been playing a vital role for the emancipation of socio- economic condition through employment and foreign earnings and acting as driving force in the economic development.
Ready made garments (rmg) sector plays an important role in the total economy of bangladesh now-a-days rmg sector is a multi-billion-dollar earning business and export industry in bangladesh therefore, this sector is number one earner of foreign currency in bangladesh the journey of rmg sector in bangladesh has been started in 1980s since then this sector did not require for looking back.
Buying house (bh) is one of the most distinguished business fields in bangladesh rmg sector it is well understood that bangladesh achieved second highest rmg exporters’ position in the world, because the sector produces high quality product with a competitive price than other competitor countries. Transformation of the bangladesh economy the role of our rmg entrepreneurs, domestic fiscal and financial, institutional policy support and incentives put in place by successive governments, substantial rmg-supportive linkage activities within the. Impacts of rmg sector in bangladesh economy rmg plays important role in bangladesh economy in many ways with the growth of rmg industry, linkage industries supplying fabrics, yarns, accessories, packaging materials, etc have also expanded in addition, demand for services like transportation, banking, shipping and insurance has increased.