Bangladesh is one among the world’s leading apparel exporters. Now Bangladesh became the most preferred country for textile and apparel sourcing, next to China. Textile and apparel industry in Bangladesh and sourcing by global retailers to Bangladesh is expected to have an annual increase of 12 percent. Textile and apparel sourcing plays a major role in the development of the country’s economy.
The outstanding performance of Bangladesh in textile sourcing is contributed by a number of factors. Bangladesh has a perfect supply chain starting from raw material to high quality of finished products. Textile industry is highly labor intensive. Bangladesh has abundant availability of labor at the cheapest cost as compared with other global countries. It is enriched with experienced entrepreneurship and skills which is hard to be overcome by other countries. Bangladeshi textile industry is comprised of both small and big industries. Medium and small industries can manufacture high fashion garments and possess the flexibility for small orders which needs to be delivered quickly, while big firms enable to serve big buyers. Textile industry in Bangladesh is the second largest industry next to agriculture, and the largest in export sector. One out of every 5 household in Bangladesh is linked with the textile sector. Readymade garment (RMG) exports from Bangladesh increased by 12.55 per cent to $31.456 billion in fiscal 2020-21 ending June 30. It has about 5,000 garment manufacturing units giving employment opportunities to 6 million people. Sourcing to Bangladesh has given good quality and productivity gains to foreign countries. Many leading fashion brands are associated with Bangladeshi products. Bangladesh is being looked upon as a major exporter of fashion apparels and is being appreciated in international markets. There is a strong demand for “Made in Bangladesh” products in Italy, Spain, German, France, U.K. and across the Europe. Also Bangladesh is one of the Major Readymade garment (RMG) exporter in USA market.
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