Friday, January 2, 2009

Impact of economic recession in BD Garments sector

Will economic recession in USA affect Bangladeshi Garments Industry?

According to news published in Xinhua last month Bangladesh will be able to sustain despite the toughest time for Bangladesh's garment industry since it started in early 1980s. On other side of coin there are increased orders for low cost garments and Bangladesh is beating its competitor with combination of low-cost labor and reliability.

The export of garment in Bangladesh rose to 10.7 billion U.S. dollars in the last fiscal year (from July 2007 to June 2008) comparing with 9.3 billion U.S. dollars a year ago, accounting for 76 percent of total export in the country. The garment industry of Bangladesh employs around 2.5 million workers, 85 percent of them are women.

A VOA report. Watch Video

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