BGMEA mentioned that there is a huge demand for these items in the global market, though Bangladesh produces them a little bit.
BGMEA President Rubana Huq said that Bangladesh lost 1.61 percent unit value of RMG products on the global market in the last four years. Govt should co-operate to increase this percentage so that we can earn more by exporting these items.
There are five items that contributed about 73 percent or US$ 24.8 billion of the country’s total export earnings of US$ 34.13 billion from the apparel items in the last fiscal year, according to BGMEA data. Most of the RMG items (74.14 percent) are made of cotton. The products are t-shirt, sweater, trousers, jacket and shirt. (BGMEA)
Market value of these 51 products
The global market size of the 31 products is about $132 billion and Bangladesh earned $7.16 billion by exporting the items in 2019. The global market size of the rest 20 items is $54 billion and Bangladesh earned only $1.2 billion by exporting the items in 2019, according to the BGMEA.