LightCastle Analytics Wing
Upscaling the RMG Sector of Bangladesh
Bangladesh’s Ready-Made Garments (RMG) sector, accounting for 84.7 percent of its total merchandise exports in FY23, has, over the past several decades, contributed to a remarkable economic transformation. However, the resultant export concentration has become a pressing concern for long-term economic resilience and diversification.
Furthermore, within the garment exports, the concentration on cotton-based products, which contrasts with global preferences for non-cotton apparel, raises concerns. As Bangladesh approaches its graduation from the Least Developed Countries (LDC) category, diversification of the overall export structure, along with garment exports, becomes extremely important to buffer against potential external shocks and also to tap into newer market segments and opportunities.
This study aims to explore the prospects of expanding man-made fibre (MMF) exports and offers recommendations for such a strategy to enhance the overall performance and competitiveness of the garment sector.
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