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Economical importance of Textile Industries of Bangladesh

Textile industries of Bangladesh are playing an important and significant role in the economy of Bangladesh. Textile sector is the second largest employment sector of Bangladesh.Agriculture is the first employment sector. Nowadays textile industries of Bangladesh account 10 percent of its GDP. It is the most powerful sector of Bangladesh to attract the foreign investors. 77.1 percent of total export earnings come from the textiles and garments sectors. So normally we can understand the importance of textile industries of Bangladesh. Bangladesh can maintain the brand quality of it’s products, so the demand of Bangladeshi RMG products is increasing day to day.

Textile industries of Bangladesh:

In 1984-85 there were only 384 textile industries of Bangladesh and in 2000-01 numbers of industries was 3480. But at present the number of Textile industries of Bangladesh is 5600.major product is Ready Made Garments which is exported by textile industries of Bangladesh. From below we can understand the increased of textile and garments industries of Bangladesh.

Economical importance of Textile Industries of Bangladesh

Economical importance of Textile Industries of Bangladesh

Influence of in textile industries of Bangladesh the job sector:

It brings a great fortune for the people mostly for the lower class people. Mainly women and children are engaged as labor. Though child labor is illegal in Bangladesh, the poor people who live under poverty send their people to garments as worker to support their family with extra finance. For whom they can not go to school. But 80 percent of them are women.

How many people engage as worker with textile industries of Bangladesh

  • 0.12 million in 1984-85
  • 1.2 million in 1994-95
  • 1.8 million in 2000-01
  • 2.8 million in 2007-08
  • 3.6 million in 2009-11
  • 4 million in 2011-13
Economical importance of Textile Industries of Bangladesh

Economical importance of Textile Industries of Bangladesh

RMG export statistics of Bangladesh:

Ready Made Garments sector is the main source of export earnings.

  • 77.1 Percents of total earnings come from RMG export
  • 11 percents from Frozen Food
  • 1.2 percents from Raw Food
  • 0.63 percent from Chemical Product
  • 3.6 percents from Jute Goods
Economical importance of Textile Industries of Bangladesh

Economical importance of Textile Industries of Bangladesh

In 1984-85 the portion of RMG of total export earnings is zero. That time, we could not create any foreign market; our products are used for our own purpose. That year ,the amount of export earnings was 934.43 million dollars USD. Textile industries of Bangladesh earn 624.16 million USD by exporting RMG in 1989-90 which is 32.44 percent of total export earnings. In 2005-06 Bangladesh earn 8654.52 million USD (75.06% of total export earnings). In 2012-13 Textile industries of Bangladesh bring 21515.73 million USD where total export earnings are 27018.26 million USD. This is 79.63 percent of total earnings. So we are observing that the influence of textile industries in GDP of Bangladesh Govt. Today we can say that export earnings of Bangladesh totally depend on RMG.

chart of early growth of product:

Graph of export of woven and knit in 2008:

early export statistics of Textile Industries in Bangladesh:

Bangladesh textile industries export 40 percent of it’s products to USA and the rest 60 percent to European countries. 
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About Ferdous

Ferdous Azam is a student and part time blogger. He loves to write on alternative energy,technology and technology related tips & tricks. Blogging is his passion! He is a student of Mechanical Engineering.

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