Bangladesh’s textile and garment industry is a major contributor to the country’s economy, and it is a vital player in the global textile and apparel market. In the fiscal year 2021-2022, Bangladesh exported garments worth US $42.613 billion, making it the second-largest apparel exporter in the world (Export Promotion Bureau data).
In addition, the garment industry is also a significant source of employment and income for Bangladesh, with more than 4 million people (about twice the population of New Mexico) working in the sector.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) reported that in the first eight months of 2022, Bangladesh ready-made garment (RMG) exports totaled $29.825 billion, up by 38.39% compared to the same period in the previous year.
The United States is the largest export destination for Bangladeshi garments, accounting for around 21.50% of total exports. The European Union (namely Spain, Germany, Italy, France, Belgium and Netherlands) is the second-largest export destination for Bangladesh Apparels, followed by UK, Europe and Canada.
