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GARMENTS INDUSTRY IN THE EXPORT TRADE OF BANGLADESH

Manzoor Mannan Director General Textile Cell Export Promotion Bureau
The importance of export trade in our economy can hardly be exaggerated. A sturdy expansion of exports may not be a sufficient condition for development, but it is accepted as one of the necessary conditions for sustained economic growth. The argument that an outward looking export promotion strategy is a viable alternative to inward oriented import substitution strategy now plays a bigger role in development thinking than anv time in the past. Bangladesh " an archetypal
LDC” suffers from chronic balance of payments problems and continuous adverse balance of trade and a high external debt burden. Her exports can finance less than 50% of her import requirements. As a result Bangladesh is quite heavily dependent on international trade for meeting her various needs of investment
and consumption. Share of trade as percentage of GNP has been rising steadily during the last few years reflecting the ever greater role that international trade plays in the national economy.
The value of Bangladesh's exports in 1990-91 was USS 1,718 million. Export earnings in 1990-91 was 32.97% and 12.73% higher than total export earnings during 1988-b9 and 1989-90 respectively. Jute, Jute goods and non Jute items accounted for 23% and 77% respectively of Bangladesh’s total export earnings in 1990-91 as against 30% and 70% respectively in 1989-90. Traditional and non-traditional goods contributed 25% and 75% respectively of the country's total export earnings tn 1990-91 compared to 32% and 68% respectively in 1989-90. Bangladesh derived 18% of her export earnings in 1990-9 1 from primary and manufactured commodities respectively as against 21% and 79% respectively in 1989-90 . During 1990-91 only five items, namely-, raw jute, jute goods (except carpet) leather, shrimps and readymade garments contributed 82% of the total national export earnings. During 1989-90 this share was 91% . Another five items, namely-tea. fish, naptha, furnace oil and chemical fertilizer accounted for 7% of export earnings in 1990-91 and 5% in 1989 90 .Remaining 11 % of the export earnings in 1990-91 ( and 4% in 1989-90 ) was derived from several other 100 items.During 1990-91 the principal export earners were the readymade
garments (43%). jute goods (17%), frozen food, leather and hosiery goods (8% each), and raw jute (6%). Items that recorded increases in export earnings, during 1990-91 over 1989-90 include tea (10%). fish (45); dehydrated and salted fish (13.3%); shark fins and fish maws (23%) ; naptha (73%) ; furnce oil (109%); chemical fertilizers (113%); newsprint (64%); fruits (86%); betel leaves (127%) and readymade garments (21%') . Hosiery goods has shown exeedingly impressive growth in export earnings during 1990-91 over that of 1989-90.
The above paragraphs illustrate the important position that readymade garments occupies in the export trade of Bangladesh. The rise of the garments industry in Bangladesh has been described as the "rise of a phoenix from the ashes1' . In 1978 when Bangladesh began building a garments industry with the help of Republic of Korea, there was less than a dozen manufacturers in Banglaesh. By 1992, their number had grown to more than 100 registered industries It is estimated that over half a million workers are now employed in the garment industry over78% of whom are women. The Export
earnings from this sector was around USS 4 million in 1980 -81 which now stands at USS 867 million in 1990-91 fiscal period including hosiery. Bangladesh is now exporting about 100 categories of garments to about 50 countries out of which ten countries like the USA, Germany, Farnce, UK, Italy, Netherlands , Canada, Sweden, Belgium and Norway together account for about 98% of destinations.
Over the years Bangladesh has emerged as a major supplier to three very important markets. It is the 8th largest exporter to the USA (1991) ; 10th largest exporter to the EEC (1990) and 9th largest exporter to Canada (1990). With the assistance form the government the capable entreprenuers have tremendously boosted the viability of this sector. Exports to all other countries are at present quota free. A number of garments categories exported to the USA and Canada are subject to quota restrictions.
The garments sector also palys a significant role in the domestic economy . It has opened up a big opportunity for establishment of linkage industries. Business like banking, instance. freight, transport, hotels, shipping
etc. are growing at a fast rate due to the growth o f garment industries . Above all the industry has opended up a vast market of approximately 650 million sqaure meter of textile fabrics valued at about USS 600.00 million for our Textile Industry. It will not be out of place here to mention that our garment manufacturers have attained such expertise even now to help set up joint ventures garment manufacturing units in few of the newly independent states of the eastwhile USSR. The industry has given or face lift to a great section of our women folk by providing of jobs which in turn has helped in the socio economic development of our country.
The garment sector has a tremendous growth prospect with bright possibilities of product diverdification, exploring new markets and upgrading of our Froduction to the high value ashion garments. The garment sector is thus indirectly working like a springboard to promote the development of yet another potential sector, the textile sector in Bangladesh . If aU the relevant Governmental agencies and private sector captures this opportunity and start to set up textile industy, textifc finishing units etc. then the textile sector can perhaps be seen to bring about a revolution in our economy by ensuring higher value addition through development of local fabrics. This would truly make the meaning of the words . " export led growth " come true in the context to Bangladesh.