Impact of Rmg Sector in Bangladesh Economy
Impact of RMG sector in Bangladesh economy
Since the late 1970s, the RMG industry started developing in Bangladesh primarily as an export-oriented industry although; the domestic market for RMG has been increasing fast due to increase in personal disposable income and change in life style. The sector rapidly attained high importance in terms of employment, foreign exchange earnings and its contribution to GDP.
Table: 1
|Major Products Export From Bangladesh And Contribution|
|to GDP |
|RMG |75.65% |
|Frozen Food |4.22% |
|Jute Goods |2.60% |
|Leather |2.19% |
|Chemical Products |1.77% |
|Raw Jute |1.21% |
|Agri Products |0.72% |
|Tea |0.06% |
|Others |11.56% |
Table: 2
|Comparative Statement On Export of RMG And Total Export Of Bangladesh |
|Year |Export of RMG |Total Export of |% of RMG's to|Year |Export of RMG |Total Export of |% of RMG's to|
| |(Million US $) |Bangladesh (Million |total Export | |(Million US $) |Bangladesh (Million |total Export |
| | |US $) | | | |US $) | |
|1983-84 |31.57 |811.00 |3.89 |1995-96 |2547.13 |3882.42 |65.61 |
|1984-85 |116.20 |934.43 |12.44 |1996-97 |3001.25 |4418.28 |67.93 |
|1985-86 |131.48 |819.21 |16.05 |1997-98 |3781.94 |5161.20
Since the late 1970s, the RMG industry started developing in Bangladesh primarily as an export-oriented industry although; the domestic market for RMG has been increasing fast due to increase in personal disposable income and change in life style. The sector rapidly attained high importance in terms of employment, foreign exchange earnings and its contribution to GDP.
Table: 1
|Major Products Export From Bangladesh And Contribution|
|to GDP |
|RMG |75.65% |
|Frozen Food |4.22% |
|Jute Goods |2.60% |
|Leather |2.19% |
|Chemical Products |1.77% |
|Raw Jute |1.21% |
|Agri Products |0.72% |
|Tea |0.06% |
|Others |11.56% |
Table: 2
|Comparative Statement On Export of RMG And Total Export Of Bangladesh |
|Year |Export of RMG |Total Export of |% of RMG's to|Year |Export of RMG |Total Export of |% of RMG's to|
| |(Million US $) |Bangladesh (Million |total Export | |(Million US $) |Bangladesh (Million |total Export |
| | |US $) | | | |US $) | |
|1983-84 |31.57 |811.00 |3.89 |1995-96 |2547.13 |3882.42 |65.61 |
|1984-85 |116.20 |934.43 |12.44 |1996-97 |3001.25 |4418.28 |67.93 |
|1985-86 |131.48 |819.21 |16.05 |1997-98 |3781.94 |5161.20