The economy of Bangladesh is a major developing mixed economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.
The textile and clothing industries provide a single source of growth in Bangladesh's rapidly developing economy. Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh's total merchandise exports. Emerging as the world's second-largest exporter of ready-made garment (RMG) products, Bangladesh significantly bolstered employment within the manufacturing sector.
KDS Group is a business and industrial conglomerates of Bangladesh, which is based in Chittagong but with extensive operations in Dhaka as well. It has also established offices and agencies in India, Hong Kong and is expanding into Europe and North America.
Dragon Group is a group of garment factories and other companies in Bangladesh. The group produces mainly for the international market and exports to more than 30 countries, especially the United States and Canada. Its subsidiary Dragon Sweater employs more than few thousand workers and in 2018 was the most traded stock on the Dhaka Stock Exchange.
The Journalism Training and Research Initiative (JATRI) is a program that attempts to improve the state of journalism in Bangladesh by providing training and support to journalists and researchers investigating social and economic issues of importance to society. The daily press and broadcast media in Bangladesh provide the public with a range of news, but reporting typically lacks detail. National news reporting is often focused on incidents involving individuals, rather than on the causes that allowed the incident to occur.
Ha-Meem Group is a Bangladeshi conglomerate in textile and garments sector. It owns 26 garments factories, sweater factory, poly bag industry, label factory, jute mill, chemical formulation plant, tea estates, transport company, Channel 24 and Samakal, a widely circulated national daily newspaper. The newspaper are under Times Media Limited of Ha-Meem Group. It employs 50,000 people.
The Rana Plaza collapse occurred on 24 April 2013, when the eight-storey "Rana Plaza" commercial building collapsed due to a structural failure. The rescue team's search ended on 13 May 2013, with a confirmed death toll of 1,134. Approximately 2,500 injured people were rescued from the building. It is considered as one of the deadliest structural failures in modern human history, as well as the deadliest garment-factory disaster in history, and the deadliest industrial accident in the history of Bangladesh. Amnesty International called it "the most shocking recent example of business-related human rights abuse."
Clothing industry or garment industry summarizes the types of trade and industry along the production and value chain of clothing and garments, starting with the textile industry, embellishment using embroidery, via the fashion industry to apparel retailers up to trade with second-hand clothes and textile recycling. The producing sectors build upon a wealth of clothing technology some of which, like the loom, the cotton gin, and the sewing machine heralded industrialization not only of the previous textile manufacturing practices. Clothing industries are also known as allied industries, fashion industries, garment industries, or soft goods industries.
Export Import Bank of Bangladesh PLC. commonly known as EXIM Bank is one of the private commercial banks in Bangladesh. The Bank came into operation as a commercial bank on 3 August 1999 as per rules and regulations of Bangladesh Bank. From its establishment the bank was known as BEXIM Bank Limited. But due to legal constraints, the bank was renamed as EXIM Bank, which stood for Export Import Bank of Bangladesh Limited.
Kutubuddin Ahmed is a Bangladeshi businessman who is the founder and chairman of the Envoy Group, a conglomerate which operates in multiple sectors, with major operation in the apparel industry. He is a Fellow of the Institute of Engineers, Bangladesh. In 2015 he is a member of the executive committee of the International Chamber of Commerce, Bangladesh, and a director of the Chittagong Stock Exchange.
Noman Group is a Bangladeshi conglomerate in the textiles and garments sector. Its companies export annually about $1 billion in textile and garment products around the world, and employ about 70,000 people. Noman Group produces yarns, fabrics, home textile, bed covers, curtain, comforters, quilt covers, denim and towels.
Mohammad Fazlul Azim is a Bangladeshi industrialist, business magnate and former politician. He is the chairman of Azim Group, a leading industrial conglomerate and exporter in Bangladesh with business concerns in Garments, Steel, Engineering, Agro and various other sectors. He last served as an independent member of parliament of the Jatiya Sangsad. Azim was the only independent lawmaker in the parliament during the 9th Jatiya Sangsad. He also served in the parliament from the Bangladesh Nationalist Party.
Bangladesh Garment Manufacturers and Exporters Association or BGMEA is a nationwide trade organization of garments manufacturers in Bangladesh and is located in the capital city of Dhaka. It plays a pivotal role in the country's earning sector of foreign trades.
Shafiul Islam Mohiuddin is a Bangladeshi business leader. He was the Member of Parliament of the Dhaka-10. He is the former president of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI). He led the RMG sector of the country over thirty years and became the president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the largest export earning sector of the country.
Sikder Group is a family-owned Bangladeshi business conglomerate. Zainul Haque Sikder founded the group in the early 1950s, and was its chairman at his death in 2021. His sons, Rick Haque Sikder and Ron Haque Sikder, are directors of the Sikder Group.
The Bangladesh Textile Mills Association or BTMA is the national trade body for textile mills, manufacturers, and mills in Bangladesh and is located in Dhaka, Bangladesh. It carries out research on the textile industry in Bangladesh. Showkat Aziz Russell, the Managing Director of Amber Denim Mills Limited, a concern of Partex Group is the President of the trade association.
Bangladesh Association of Banks (BAB) is an industry trade body of private banks in Bangladesh that represents the interests of the banking industry. Nazrul Islam Mazumder, chairperson of Exim Bank, is the Chairman of the Bangladesh Association of Banks.
Doreen Group is a Bangladeshi diversified conglomerate based in Dhaka. Nur-E-Alam Siddique is chairperson of the group. Parveen Alam Siddique is the senior vice chairperson. Tahzeeb Alam Siddique is the managing director and Tanzeer Alam Siddique is the vice-chairperson.
DBL Group, formerly known as Dulal Brothers Limited, is a Bangladeshi diversified conglomerate based in Dhaka with a focus on the garments industry. The company has received investments from International Finance Corporation, German Investment Corporation, and Swedfund. It has invested to make its factories more green.
RMG Sustainability Council is a semi-official body responsible for ensuring a safe working environment in ready-made garment factories in Bangladesh. It is responsible for inspecting factories in Bangladesh. Shafiul Islam Mohiuddin and Amirul Haque Amin are co-chairman of the organisation. Rubana Huq is an executive committee member of the council.
US$600 Million (2016)
