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Upcoming Garment Industry In Bangladesh

Updated: Oct 24, 2021

By Mrirata Rahman,

Bangladesh's garment sector has raised its yearly income from $19 billion to $34 billion in the last seven years, a 79 percent increase. Bangladesh is now the world's second largest exporter of garments, with the sector accounting for 80% of the country's overall export revenues. Better labor standards and safety conditions put in place after the workers' deaths were critical. Bangladesh has become a more appealing alternative for international apparel firms, particularly those trying to diversify their manufacturing locations and, more lately, those concerned about the impact of global trade discussions on their bottom line.

Working conditions in Bangladesh's garment sector came under intense criticism in 2012, after 117 people were murdered in a fire at Tazreen Fashions, a garment factory outside the capital city of Dhaka, and again five months later, when more than 1,100 workers died in the collapse of Rana Plaza, which housed numerous garment companies. Global merchants, foreign governments, and international organizations, like the International Finance Corporation (IFC), then took efforts to assist the industry in improving safety and labor standards in order to avoid future fatalities.

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