The RMG business started in Bangladesh in the 70s but it was then merely effort, the first consignment of knitwear export as made in 1973 and the first consignment of woven garments was made in 1977. In 1981-82 the contribution of woven garments in the total export was 1.10% . Afterwards it is a story of sustained success for the Bangladesh RMG sectors. The knitwear sector has grown over the years in geometric progression and become the prime driving force of Bangladesh’s export earnings. Within a decade the contribution of woven to the export basket became 42.83% (1990-1991) and the knitwear sector’s contribution 41.79% to national export earnings at the end of FY 2008-09(July-April).
The entrepreneurs of the knit sector stepped forward with their expertise in the late 80s .With their earnest efforts they were able to export US$14.84 million in 1990-90. Out of this, US$ 2.02 million was exported to US. The trend continued un the knit sector because of the market access opportunities provided to the LDCs under the generalized systems of preference (GSP) benefit.
This is the rejuvenated beginning of the epic story of Bangladesh knitwear sector that in true sense has been possible due to massive industrialization in a sustainable way with effect on all probable human development aspects which is the encouraging part of the story. The growth of knitwear sector is increasing at an increasing rate. The cumulative average growth rate of the sector is 20%, and it id continuously grabbing more portions in the export pie of Bangladesh .this is mainly attributed to the facilities provided under the EC GSP and ROO. The knitwear sector is heavily driven by the favorable policies and took the opportunity to develop a strong backward linkage for the sector.
The EU is the main export region of Bangladeshi knitwear constituting 76% (us$4.2 billion) of total knitwear export followed by the USA (14.59%, i.e.US$807 million) in the year 2007-2008. This is mainly attributed to the facilities provided under the EC GSP and favorable ROO. The knitwear sector is heavily driven by these favorable policies and took the opportunity to develop a strong backward linkage for the sector where the value addition is about 75% .The two-stage transformation requirement of ROO in 1999 boosted market penetration in the EU further, it contributed a growth of 101.19% since 2000-01.
Bangladesh RMG sector has successfully passed some critical tests and is now sailing with masts: knit and woven. The sub-sector is now in healthy competition among themselves to take the role of leadership within the country.
In FY 2003-04, knitwear for the first time exported with 91.6 million dozens. Knitwear is still leading in terms of quantity exported and is widening the gap day by day. Export quantity of knitwear items increased to 241.59 million dozens which is 163.74% higher than the year 2003-04 to 2007-08. On the month of December of the FY s 2008-2009, total knitwear export was 146.5 million dozens which is 30.58 million dozens higher then the same period of last year.
Bangladesh knitwear is performing a well increase in terms of quantity which is a clear indication of increase of capacity in this sector. In the year 2007-08, the contribution of woven wear to the export earning was 36.17% and in knitwear was 38.97% .In the current year, the performance of both the sector are as follows:
- Knitwear export US$ 5231.01 million FY 2008-09(July-April)
- Woven export US$4902.48 million FY 2808-09 (July- April)
Therefore the contribution of knitwear in national export increase is 57.82%.
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