The Apparel Industry in Bangladesh is a Powerhouse for Growth and Empowerment. $46.99B Exports | 4M+ Jobs | Women Leaders (58%). Dominating global apparel exports, Bangladesh thrives on innovation (AI, IoT) & empowers millions through jobs & poverty reduction.
Let’s Know The Significance of Apparel Industry in Bangladesh
- Economic Value: In the outgoing financial year 2022-23, Bangladesh exported 46.99 billion dollars, Growth of 10.27%
- Job Creation: Bangladesh’s garment industry employs more than 4 million people.
- Manufacturing Share: Bangladesh holds a 7.9% global market share with exports of 45 billion dollars by 2022. [World trade statistical review released 31 July,2023]
- Dominant Player: After China, Bangladesh dominates the global apparel export market in the EU and USA. Bangladesh holds the second position with 7.9% of the global market share.
- Contribution to GDP: The largest contribution to Bangladesh’s GDP is 9.25% in FY 2022.
- Poverty Reduction: Bangladesh’s apparel industry has created employment for around 4 million people and lifted them from the abyss of poverty.
- Women Empowerment: 58% of total garment workers are women, according to Mapped in Bangladesh (MiB); the survey was conducted in 2020.
- Technological Advancement: Automation, IoT, RFID, AI, and other technologies are widely used in the manufacturing process of the apparel industry in Bangladesh.
Summary at a Glance
- Record exports: $46.99 billion in 2022-23, 10.27% growth!
- Massive employment: Over 4 million jobs, empowering women (58% workforce).
- Global leader: 7.9% market share, second to China in EU & US exports.
- GDP engine: 9.25% contribution, fueled by innovation (AI, IoT, etc.)
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