Investment & Trade
Sector Profile: Textiles & RMG
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Executive Summary
The Textiles & Ready-Made Garment (RMG) sector is the cornerstone of Bangladesh's export economy, contributing 82.3% of total goods export (USD 36.61B of USD 44.47B in FY2023-24). The sector employs approximately 4.4 million workers directly (60% women) and 8 million indirectly. Bangladesh is the world's 2nd largest apparel exporter after China. The sector comprises 3,500+ factories (BGMEA: 2,180 members + BKMEA: 1,500 members + non-affiliated). Knitwear (HS-61) accounts for 47% of RMG export, woven (HS-62) for 53%. Top destinations: USA, Germany, UK, France, Spain. Average FOB price per dozen: USD 32 (knit), USD 28 (woven). The sector has invested heavily in green manufacturing — Bangladesh now has 206 LEED-certified factories (highest in the world). Compliance investments since 2013 (post-Rana Plaza) total USD 1.2B. Key challenges: wage pressures (minimum wage raised 56% in Dec 2023 to BDT 12,500/month), energy costs, and the upcoming LDC graduation in 2026 which will affect duty-free EU access.
Key Points
- 82.3% of total goods export (USD 36.61B in FY2023-24)
- 4.4 million direct workers (60% women), 8 million indirect
- World's 2nd largest apparel exporter after China
- 3,500+ factories (BGMEA + BKMEA + non-affiliated)
- Knitwear (HS-61): 47% of RMG | Woven (HS-62): 53%
- Top destinations: USA, Germany, UK, France, Spain
- 206 LEED-certified green factories (highest in world)
- USD 1.2B compliance investment since Rana Plaza (2013)
- Minimum wage: BDT 12,500/month (raised Dec 2023, +56%)
- LDC graduation Nov 2026 will affect EU EBA access
Full Details
Detailed investment profile for the textiles and ready-made garments sector. Market size, growth trends, incentives, and investment opportunities.