Bangladesh Textile Industry

Bangladesh is a poor country in South Asia but which tries to catch up with the rest of the world and for that it uses all the resources that it can. The Bangladesh poverty rate is one of the highest not only in the area, but also in the world and yet the government as well as various international companies and organizations invest in the Bangladesh economy and in improving the life standards of the Bangladeshi people. Here one can read more about the Bangladesh textile industry, one of the main income sources for this country and the source of economic growth.

There are two main industrial fields that provide Bangladesh peoples with jobs and these are the agriculture industry and the textile industry. According to the official numbers, the textile industry is the field in the Bangladesh industry that s the single source of economic growth thanks to the income that it produces through the exportation of the textile products, mainly to the Unites States and the European Union. It is estimated that more than 3 quarters of the Bangladesh merchandise exports account for textiles, clothing and ready-made garments. The industry is also known to be little influenced by foreigners as most of it is being controlled by Bangladeshi companies and even more by Bangladeshi families.

Two of the most exported textile products are the tea and jute, which are known to have been exported ever since the founding of Bangladesh. Yet, the jute sector is constantly hit by flooding which occur on a regular basis and which increase the price of the jute fiber. As such, most of the textile industry is now reliant on the garment industry. This exchange has been occurring ever since the 1980s. It is estimated that the textile industry creates about 3 million jobs, most of which are taken by women, more than 90%.