Bangladesh has rapidly emerged as a leading nation in the apparel export industry. According to data from the Bangladesh Export Promotion Bureau, the country’s readymade garment (RMG) sector accounts for 84% of total merchandise exports and employs around 4 million people. In the past decade, Bangladesh’s RMG exports have grown at a compound annual growth rate of 11.5%, making it the second-largest exporter of apparel in the world, behind only China.
One of the main reasons for this rapid growth is the country’s low labor costs, which make it an attractive destination for textile and clothing manufacturers. Bangladesh also has a large and growing workforce, with a population of over 160 million people, many of whom are young and eager to work in the RMG sector. Additionally, the government of Bangladesh has implemented policies and incentives to encourage investment in the textile and apparel industry, further boosting its growth.
Another key factor in Bangladesh’s success in the apparel export industry is its strategic location, which allows for easy access to major markets such as Europe and the United States. Brandex Sourcing, a leading apparel company based in Bangladesh, exports its custom t-shirts, polo shirts, hoodies, boxers, briefs, leggings and quick dry t-shirts to USA, Europe, and the rest of the world, and offers cheap door-to-door shipment. Brandex Sourcing has achieved a 5* rating on Alibaba and is a Gold-rated supplier on Alibaba.com.
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In conclusion, Bangladesh’s low labor costs, large workforce, government support, and strategic location make it a highly attractive destination for textile and clothing manufacturers. With an impressive track record of growth in the apparel export industry, Bangladesh is well-positioned to continue its rise as a leading nation in the sector.