BizVibe: Readymade Garment Industry in Bangladesh Continues Its Strong Growth
March 25 2017 - 04:24PM
Business Wire
As the largest and most renowned manufacturing sector and GDP
contributor in the country, the readymade garment (RMG) industry in
Bangladesh has been increasing its presence in the global market.
Details on the growing readymade garment sector in Bangladesh and
the top garment manufacturers in the country are some of this
week’s featured stories on BizVibe. BizVibe is the world’s
smartest B2B marketplace and allows users to discover high
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Overview of the readymade garment
industry in Bangladesh. (Graphic: Business Wire)
RMG industry in Bangladesh Expects
Higher Exports in 2017
Bangladesh’s position as the world’s second largest readymade
garment exporter continues to hold strong. The latest figure
shows that the garment industry in Bangladesh generated USD 28.09
billion in exports in the fiscal year 2015-16 with a 10.21% growth
from the previous year. The growth was mainly attributed to
political calmness during the year, increased productivity,
entrepreneurs’ resilience and improvement of workers’ safety
standards in factories.
Readymade garments exported from Bangladesh currently represent
around 6% of the global clothing market. Bangladesh surpassed India
to become the world’s second largest exporter in 2003. It is
expected that Bangladesh will continue to strengthen its position
as the world’s leading readymade garment exporting country in near
future.
Connect with nearly 140,000 textiles companies
listed on BizVibe
Bangladesh Emerges as Leading Denim
Manufacturing Hub
The denim manufacturing industry in Bangladesh is
becoming one of the largest in the world, generating over USD 2
billion export value every year. Due to the increasing demand of
denim fabrics both domestically and internationally, Bangladesh
aims to further strengthen its leading position in the global denim
market, and is hoping to increase its share to 10.8% in the global
market by 2021.
Bangladesh is now already the largest denim supplier in the EU
market with market share of 23%, and the third largest denim
exporter to the US, after Mexico and China, with an 11.3% share.
The total investment in Bangladesh’s denim sector has surpassed USD
900 million since 2015.
Connect with the top denim companies listed on
BizVibe
Bangladesh’s Top Garment
Manufacturers
The readymade garments industry in Bangladesh generates about
USD 30 billion export value every year, making it one of the top
garment producing countries in the world. Ha-Meem Group, Beximco
Fashions Ltd, and Square Fashions Ltd are among the top 10
garment manufacturers in Bangladesh, competing with many other
strong players in a diverse and competitive market.
Connect with top textiles companies in Bangladesh
listed on BizVibe
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version on businesswire.com: http://www.businesswire.com/news/home/20170325005016/en/
Jesse MaidaBizVibe Media & Marketing
Executivemedia@bizvibe.com