Garments Industry in Bangladesh Essay Example

from work. It has given them a steady income, economic independence, self-reliance and dignity, because they are earning their own living and managing their family expenses. Garments of Bangladesh in the world-market: Over the last twelve years or so the garments industries have emerged as the largest source of earning foreign currency. About half of the foreign currency from the ready-made garments is earned from European Union and the U. S. A. Besides, Canada, Japan, Australia, New Zealand; Russia etc. also are other garments importing countries.

At present about 20 countries of the world are importers of our garments. Its market is being expanded in the Middle East, Russia, Japan, Australia and many other countries. Export income of different fiscal years: In 1977-78 fiscal year Bangladesh exported forty thousand shirts in Germany and earned one million U. S. dollar. At the beginning of the 80's this industry flourished rapidly. In 1983-84 fiscal year the income from garments rose to 6 crores 50 lacs US dollar. In 1998-99 it became 420 crores U. S. dollar. By 2003-2004 the factories multiplied three times.

Simultaneously the export has also increased. The amount of export income in 2003-2004 increased to 568 crores US dollar. Items of exportable garments: Among the garments of Bangladesh are shirt, pajama, jeans-pant, jacket, trouser, hats, laboratory coat, sweater, pullover, jumper, jacket, trousers, gloves, sports dress, nightdress etc. Problem behind garments: This promising industry has some problems impeding its development. Bangladesh imports raw materials for garments like cotton, thread colour etc. This dependence on raw materials hampers the development of garments industry.

Moreover, foreign suppliers often supply low quality materials, which result in low quality products. Most of

the illiterate women workers employed in garments are unskilled and so their products often become lower in quality. Insufficiency of loan in time, uncertainly of electricity, delay in getting materials, lack of communication, problem in taxes etc. Often obstruct the industry. In the world market 115 to 120 items of dress are in demand where as Bangladesh supplies only ten to twelve items of garments. India, south Korea, Hong Kong, Singapore, Thailand, Taiwan etc, have made remarkable progress in garments industries.

Bangladesh is going to challenge the garments of those countries in the world market. Garments industries often pay dearly for political unrest, hartal and terrorism etc. The international market has withdrawn quota advantage over garments export form Bangladesh since December 2005. Bangladesh has to advance cautiously for getting better position of her garments in the world market. Finally destruction of twin tower in 11 September 2001. invasion on Afghanistan and Iraq and depression in world Economy have seriously affected the export trade of Bangladesh.

Things to do: In spite of having a number of problems, prospects of garments industries in Bangladesh with her cheap labour and less capital are fair. In order to hold profitable position for garments in the world market we should keep in mind the following things. 1) production of sufficient raw materials in the country. 2) imparting training to make skilled workers. 3) Reduction of VAT and taxes 4) Assurance of safety, salary and other facilities of the workers 5) More advanced of EPZ 6) Proper advantage of water houses 7) Removal of export problems etc.