Impact of Ready Made Garment(RMG) Industries in Bangladesh Economy

Abstract

The RMG industry plays a vital role in the economic enlargement of Bangladesh .Especially in exporting, RMG industry is a significant anticipation for Bangladesh Economy. The conducive elements of the RMG industry in Bangladesh are international manufacturing correspondence, economical employment expenditure, ministry approach support and energetic private industrialism. Though RMG industry has become the largest foreign exchange earning sector in the economy but the industry flourished in 1990 and 1990 at the beginning its journey in the late 1970s with relatively small investment. By exporting garments product Bangladesh earned $21.32 billion in the first seven months of fiscal 2017-18. The figure is about 80% of the country total export. The readymade garments industry export target was set $41 billion by Bangladesh government with a growth target of 7.87 percent, riding on apparel products, for the FY2017-18.Contribution of RMG is very positive in Bangladesh economy , sharing 18% of the total GDP(Gross Domestic product). Besides, the industry has become a vehicle for further computerization of the country. Sometimes the industry face problems. So, here Ready-made garments can recruit high skilled employee with giving high salary.