It’s very perplexing to the Textilians regarding the Contribution of Textile & RMG sector in Bangladesh Economy. Sometimes we mix the contribution of Export with the contribution in GDP.
Composition of export volume of Bangladesh:
Textile: 81.15% (Knit: 39.93% & Woven: 41.22%)
Specialized Textiles: 0.78%
Frozen Food: 2.77%
Jute & Jute goods: 5%
Leather: 2.6%
Agri- Product: 1.5%
Chemicals: 0.5%
Others: 5.7%
Composition of GDP in Bangladesh:
Total Nominal GDP: US $140.2 Billion (FY: 2013-14)
GDP composition By Sector:
Service: 53.9%
Industry: 28.9%
Agriculture: 17.2 %
GDP – composition by end use
Household consumption: 75.3%
Government consumption: 5.7%
Investment in fixed capital: 25.6%
Investment in inventories: 3.6%
Exports of goods and services: 24.5%
Imports of goods and services: -34.7%
Contribution of RMG sector to GDP of Bangladesh:
Contribution of RMG sector to GDP in Bangladesh is Approx 18%. As I don’t find any exact figure of Contribution of RMG sector to GDP of Bangladesh. But If we calculate it from raw data then we can easily find out a rational figure. If we consider 81.15% of all export is RMG sector then the percentage becomes 23, (140.2*28.9%*81.15%=32.88, 32.88/140.2*100=23.45%). But we should keep in mind that all textile industry is not export oriented. So it’s very rational to accept it as 18%. Another example is that total approx GDP $140.2 Billion and total Export of RMG sector 24.5 Billion, then Contribution becomes 17.47%. So we can easily consider it as 18 percentages as we don’t have any exact figure for this.
Composition of export volume of Bangladesh:
Total Export: US $30.19 Billion (2013-14 Fiscal Year)
RMG Export: US $24.5 Billion (2013-14 Fiscal year)
Composition of RMG Export: Knit Sector: US $12.05 Billion & Woven Sector: US $12.44 Billion (FY: 2013-14)
Composition in Percentage of Total Export:
RMG Export: US $24.5 Billion (2013-14 Fiscal year)
Composition of RMG Export: Knit Sector: US $12.05 Billion & Woven Sector: US $12.44 Billion (FY: 2013-14)
Composition in Percentage of Total Export:
Textile: 81.15% (Knit: 39.93% & Woven: 41.22%)
Specialized Textiles: 0.78%
Frozen Food: 2.77%
Jute & Jute goods: 5%
Leather: 2.6%
Agri- Product: 1.5%
Chemicals: 0.5%
Others: 5.7%
Composition of GDP in Bangladesh:
Total Nominal GDP: US $140.2 Billion (FY: 2013-14)
GDP composition By Sector:
Service: 53.9%
Industry: 28.9%
Agriculture: 17.2 %
GDP – composition by end use
Household consumption: 75.3%
Government consumption: 5.7%
Investment in fixed capital: 25.6%
Investment in inventories: 3.6%
Exports of goods and services: 24.5%
Imports of goods and services: -34.7%
Contribution of RMG sector to GDP of Bangladesh:
Contribution of RMG sector to GDP in Bangladesh is Approx 18%. As I don’t find any exact figure of Contribution of RMG sector to GDP of Bangladesh. But If we calculate it from raw data then we can easily find out a rational figure. If we consider 81.15% of all export is RMG sector then the percentage becomes 23, (140.2*28.9%*81.15%=32.88, 32.88/140.2*100=23.45%). But we should keep in mind that all textile industry is not export oriented. So it’s very rational to accept it as 18%. Another example is that total approx GDP $140.2 Billion and total Export of RMG sector 24.5 Billion, then Contribution becomes 17.47%. So we can easily consider it as 18 percentages as we don’t have any exact figure for this.
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