Bangladeshis a country with rich and diverse culture. Comprising of a deep rooted heritage reflecting in its architecture, literature, dance, music, and painting, the country also excels in textile and clothing sector. Apparel industry of Bangladesh generates employment for more than 40% of the total industrial workforce, accounting for 80% of the total exports.
Bangladeshis one of the most significant social and economic developments. The country specializes in making inexpensive clothing. With an increased investment in the apparel sector, and enhanced capacity in backward linkages such as dyeing, yarn manufacturing, and washing, the country would continue to dominate the global arena as the second largest apparel maker. Bangladesh garment sector has none other than the Chinese textile and garment industry to thank; partly for the robust growth. Earlier China was a most preferred sourcing destination.Currently, factors such as increasing aging work force, increasing labor costs,Yuan appreciation, and hiking material costs are pushing China from its places a desirable sourcing destination.
Many small orders from China are being diverted to Bangladesh. Apparels such as T-shirts, sweater, shirts, and denim pants have become a top choice of sourcing. The country has special access to markets in EU, Canada, and Japan.As Bangladesh is a least developed country, its textile and apparels enjoy quota free, and duty free access into international markets. This concession along with less labor costs and low priced apparels offer a strong competitive advantage in the global market. Bangladesh is growing into one of the fastest growing RMG exporters in the world.
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Bangladeshis one of the most significant social and economic developments. The country specializes in making inexpensive clothing. With an increased investment in the apparel sector, and enhanced capacity in backward linkages such as dyeing, yarn manufacturing, and washing, the country would continue to dominate the global arena as the second largest apparel maker. Bangladesh garment sector has none other than the Chinese textile and garment industry to thank; partly for the robust growth. Earlier China was a most preferred sourcing destination.Currently, factors such as increasing aging work force, increasing labor costs,Yuan appreciation, and hiking material costs are pushing China from its places a desirable sourcing destination.
Many small orders from China are being diverted to Bangladesh. Apparels such as T-shirts, sweater, shirts, and denim pants have become a top choice of sourcing. The country has special access to markets in EU, Canada, and Japan.As Bangladesh is a least developed country, its textile and apparels enjoy quota free, and duty free access into international markets. This concession along with less labor costs and low priced apparels offer a strong competitive advantage in the global market. Bangladesh is growing into one of the fastest growing RMG exporters in the world.
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