The economy of Bangladesh is a major developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 37th 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 industry is primarily concerned with the design, production and distribution of textiles: yarn, cloth and clothing. The raw material may be natural, or synthetic using products of the chemical industry.
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.
Pride Group is a vertical organisation engaged in the manufacture and export of knitwear products to the European Union, the US and Canada.
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 currently expanding into Europe and North America. It is one of the largest private sector employers in Bangladesh.
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.
Textile and clothing industries have been Sri Lanka's largest gross export earner since 1986 and accounted for more than 52% of the total export earnings of the country. It is also the country's largest net foreign exchange earner since 1992. The apparel industry of Sri Lanka employs about 15% of the country's workforce, accounting for about half of the country's total exports, and Sri Lanka is among the top apparel-producing countries in the world relative to its population.
Meghna Group is one of the largest Bangladeshi conglomerates. The industries under this conglomerate include automobile, light engineering (bicycle), cement, packaging, textile etc. Meghna Group was established by Bangladeshi entrepreneur Mizanur Rahman Bhuiyan. It is Bangladesh's largest bicycle manufacturer and said to be sold in Bangladesh, as well as in countries like Germany, UK and other parts of Europe. They are one of the top garments manufacturer in Bangladesh exporting to Europe high end fashion brands.
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.
The Alliance for Bangladesh Worker Safety, also known as "the Alliance" or AFBWS, is a group of 28 major global retailers formed to develop and launch the Bangladesh Worker Safety Initiative, a binding, five-year undertaking with the intent of improving safety in Bangladeshi ready-made garment (RMG) factories after the 2013 Rana Plaza building collapse. Collectively, Alliance members represent the majority of North American imports of ready-made garments from Bangladesh, produced in more than 700 factories.
Export Import Bank of Bangladesh Limited is one of the leading 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 one of the largest Bangladeshi conglomerates 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.
Uttara Export Processing Zone (UEPZ), also known as Uttara EPZ or Nilphamari EPZ, is the seventh of the eight export processing zone in Bangladesh located at Nilphamari. It's the only export processing zone of Rangpur division/ north Bengal. It was established in September 2001on about 213,66 acres of lands in Sangloshi area in Nilphamari town.
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.
Shafiul Islam Mohiuddin is a Bangladeshi business leader and current Member of Parliament of the Dhaka-10 area. 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. Tapan Chowdhury, the Chairman of Square Group, is the president of the trade association.
Bangladesh Association of Banks 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.
Deshbandhu Group is a Bangladeshi diversified conglomerate based in Dhaka. Golam Mostafa is the Chairperson and Golam Rahman is the Managing Director of Deshbandhu Group. It headquarters in Mostafa Centre, Banani, is located inside a residential neighborhood.
US$600 Million (2016)
