Post by tonystrak on Jan 16, 2018 5:43:01 GMT
Hi,
Bangladesh is the second largest Ready Made Garment producer in the world with a whopping 25 billion USD (2014 statistics) worth of exports per annum that makes it the largest industrial sector in the country with 12% contribution to the GDP, 40% of the industrial value addition and more than 5 million employment. [1][2] Unarguably, Bangladesh has been the premier supplier of Ready Made Garment (RMG) to the European countries and USA since the inception of garments industries in this country. In fact, 59% of the knitwear produced in Bangladesh is destined to the European countries. [3]Cheap labor, highest number of vertically integrated garments factories and a consistent Primary Textile Industry (Spinning, Knitting, Weaving, Dyeing and Finishing) made Bangladesh one of the most competitive suppliers of Ready Made Garments to the world.
In spite of being one of the most competitive, the garments industries in Bangladesh face great challenge in establishing a sustainable working conditions and compliance issues. Occupational health and safety (OHS) has always been a major issue of concern but unfortunately for the last 30 years or so, management barely contributed any attention to the problem. As a result RMG industries in Bangladesh are still known as the poorest in productivity when compared to other RMG exporter countries. The average labor productivity of a regular RMG industry in Bangladesh is considered only 77% comparing to China’s 100% according to a McKinsey report.[4] It clearly depicts that there is a huge gap and scope in this area and a comprehensive study is due to improve the productivity of the industries.
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Animated Device Explainer Video
Bangladesh is the second largest Ready Made Garment producer in the world with a whopping 25 billion USD (2014 statistics) worth of exports per annum that makes it the largest industrial sector in the country with 12% contribution to the GDP, 40% of the industrial value addition and more than 5 million employment. [1][2] Unarguably, Bangladesh has been the premier supplier of Ready Made Garment (RMG) to the European countries and USA since the inception of garments industries in this country. In fact, 59% of the knitwear produced in Bangladesh is destined to the European countries. [3]Cheap labor, highest number of vertically integrated garments factories and a consistent Primary Textile Industry (Spinning, Knitting, Weaving, Dyeing and Finishing) made Bangladesh one of the most competitive suppliers of Ready Made Garments to the world.
In spite of being one of the most competitive, the garments industries in Bangladesh face great challenge in establishing a sustainable working conditions and compliance issues. Occupational health and safety (OHS) has always been a major issue of concern but unfortunately for the last 30 years or so, management barely contributed any attention to the problem. As a result RMG industries in Bangladesh are still known as the poorest in productivity when compared to other RMG exporter countries. The average labor productivity of a regular RMG industry in Bangladesh is considered only 77% comparing to China’s 100% according to a McKinsey report.[4] It clearly depicts that there is a huge gap and scope in this area and a comprehensive study is due to improve the productivity of the industries.
For More Details
Animated Device Explainer Video