The Rise of Bangladesh
The Rise of Bangladesh Textile Industry
INTERNATIONAL TRADE FINANCE IBUS 4520 - 02
TABLE OF CONTENTS
Introduction and Background of study
PEST analysis
SWOT analysis
Questions and Answers
Conclusion
Recommendations
INTRODUCTION / BACKGROUND OF STUDY
Bangladesh is a country located in the South –East of Asia. It is bordered by India to its East, west and north, Burma to its South east and separated from Nepal and Bhutan.It is the world’s eight most populous country with over 160 (one hundred and sixty) million people. It is among one of the most densely populated countries of the world.It’s major cities include Dhaka, Chittagong, Khulna and Rajshahi(about.com/geography/bangladesh). The region used to be known as Eastern Pakistan and separated from western Pakistan after gaining its independence in 1971.It is ranked by the Intenational monetary fund (IMF) and World Bank as a developing country.
The textiles and clothing industry in Bangladesh has become the major source of economic growth in the country after agriculture .Today, the $19 billion a year industry is highly export oriented and currently stands as the world’s second largest producers of textiles and garments behind China. With very steady and stable increases in its volume of production being experienced over the years. The textile industry of Bangladesh has been at the forefront of foreign exchange earnings due to its low costs finished garments. This can be attributed to several factors for which will be expatiated upon. Firstly, the cost of labour is very cheap. The wage rates in Bangladesh textile industry as of 2009 are projected at an average of $50 to $60 monthly. This is less than half the minimum wage of its closest competitors China and less than even a quarter of that of its major export markets in the west such as United States and
INTERNATIONAL TRADE FINANCE IBUS 4520 - 02
TABLE OF CONTENTS
Introduction and Background of study
PEST analysis
SWOT analysis
Questions and Answers
Conclusion
Recommendations
INTRODUCTION / BACKGROUND OF STUDY
Bangladesh is a country located in the South –East of Asia. It is bordered by India to its East, west and north, Burma to its South east and separated from Nepal and Bhutan.It is the world’s eight most populous country with over 160 (one hundred and sixty) million people. It is among one of the most densely populated countries of the world.It’s major cities include Dhaka, Chittagong, Khulna and Rajshahi(about.com/geography/bangladesh). The region used to be known as Eastern Pakistan and separated from western Pakistan after gaining its independence in 1971.It is ranked by the Intenational monetary fund (IMF) and World Bank as a developing country.
The textiles and clothing industry in Bangladesh has become the major source of economic growth in the country after agriculture .Today, the $19 billion a year industry is highly export oriented and currently stands as the world’s second largest producers of textiles and garments behind China. With very steady and stable increases in its volume of production being experienced over the years. The textile industry of Bangladesh has been at the forefront of foreign exchange earnings due to its low costs finished garments. This can be attributed to several factors for which will be expatiated upon. Firstly, the cost of labour is very cheap. The wage rates in Bangladesh textile industry as of 2009 are projected at an average of $50 to $60 monthly. This is less than half the minimum wage of its closest competitors China and less than even a quarter of that of its major export markets in the west such as United States and
Cited: Whoever is the last to edit the work cited, please arrange all in alphabetic order About.com(2012) retrieved from http.//about.com/geography/Bangladesh.pdf Asiafoundation.org (2010) Retrieved from “Bangladesh’s Ready-Made Garments Landscape: The Challenge of Growth.“ Apparel, Fashion and Luxury Practices (2011) pdf European Commission 2014) Retrieved from http://ec.europa.eu/trade/policy/countries-and-regions/countries/bangladesh/ Hussain, S.S (2014) “Bangladesh Cotton and Products Annual http://gain.fas.usda.gov/Recent%20GAIN%20Publications/Cotton%20and %20Products%20Annual_Dhaka_Bangladesh_7-31-2014.pdf International Business Times (2014) Palash Ghosh http://www.ibtimes.com/despite-low-pay-poor-work-conditions-garment-factories-empowering-millions-bangladeshi-women-1563419 Office of U.S Trade Representative (2014) Retrieved from Economy". SWOT Analysis Of Bangladesh Economy (2010) BRAC University