A while back, we wrote a post about the state of manufacturing in Bangladesh. A few things have changed since then - in Bangladesh specifically and around the globe. The worldwide pandemic has also caused Bangladesh’s position in the global supply chain to shift considerably. Even with the significant changes in the manufacturing sector globally, Bangladesh still shows a lot of potential as a manufacturing hub. Competitive labor costs and large exports of ready-made garments still make Bangladesh a key player in global fashion sourcing. The manufacturing sector in Bangladesh has grown over the past decade and continues to navigate challenges before and after the global pandemic. Keep reading to learn more about what Bangladesh has to offer. The readymade garment industry has a well-known reputation for being environmentally “unfriendly.” As one of the world’s largest exporters of garments and textiles, Bangladesh is taking significant steps toward sustainable manufacturing practices. In fact, Bangladesh is home to the largest number of green garment factories in the world. This movement towards a greener future has significantly improved the country's reputation around the world. Despite last raising the minimum wage in 2018, Bangladesh still boasts a highly competitive cost of labor compared to other Asian countries. Importers looking to reduce their cost of manufacturing will surely want to consider Bangladesh as a viable sourcing option. Right now, most manufacturers in Bangladesh are in the garment and textile industry. However, the country is making a push to expand its capabilities into new markets, mainly in the leather industry. Bangladesh’s large supply of livestock makes sourcing more direct and less expensive, giving it a clear advantage. The country also plans to expand its manufacturing into the automotive and pharmaceutical industries, as well. >Bangladesh enjoys duty-free market access to the EU because it is a least developed country. This status affords the country reduced tariffs on numerous developing and developed countries. With over 52 countries around the globe offering Bangladesh duty-free market access, you can rest assured that its products are highly likely to be competitive even on a global scale. In addition, Bangladeshi businesses enjoy preferential treatment following the signing of several trade deals. Common ones include the South Asian Free Trade Area, Asia-Pacific Trade Agreement, and the SAARC Preferential Trade Arrangement. As Bangladesh enters a fourth industrial revolution, digitization and technological innovation are becoming more common in the manufacturing sector. The country has attracted numerous global brands that boast advanced technology and top-quality compliance parameters in recent years. With the entry of such brands, the Bangladesh manufacturing industry has become more competitive globally, even in the wake of a global pandemic. Bangladesh has significant growth potential, especially in its manufacturing sector. The region has fair labor, a high rate of technological adoption, ready consumers in developed countries, and advantages of duty-free. The Asian continent is a bastion of manufacturing opportunities for importers all over the world. But researching everything from the right country down to the exact factory you want to work with is critical for success. To learn more about Asia sourcing and the different options available, download your free Asia sourcing guide to learn more!5 Things to Know About Manufacturing in Bangladesh
1.Bangladesh is Taking Steps Toward a Greener Future
2. Bangladesh has Low Manufacturing Wages
3. Bangladesh's is Diversifying its Exports
4. Bangladesh is Duty-Free
5. Technological Adoption in Bangladesh
Other Opportunities for Asia Sourcing
5 Things You Need to Know About Bangladesh Manufacturing (2024)
Table of Contents
5 Things to Know About Manufacturing in Bangladesh
1.Bangladesh is Taking Steps Toward a Greener Future
2. Bangladesh has Low Manufacturing Wages
3. Bangladesh's is Diversifying its Exports
4. Bangladesh is Duty-Free
5. Technological Adoption in Bangladesh
Other Opportunities for Asia Sourcing
Top Articles
How to Manage an Airbnb Remotely — Global Game Plan
How to Create the Perfect Airbnb (with product links!) — Gretchen Kamp
Uc Santa Cruz College Confidential
Hexanaut.io – Play Online at Coolmath Games
Escape From Tarkov: How to Extract and Extraction Point Locations Guide
Escape from Tarkov Customs Map: Extraction Points, Best Loot Spots, Boss Guide
Nove turske serije u 2022. godini
Final Jeopardy 4 21 23
Syracuse Pets Craigslist
Houston Weather Realfeel
What Are Michelin Stars? | Prince of Travel
InterContinental San Francisco hiring Line Cook, LUCE Restaurant in San Francisco, California, United States | LinkedIn
Latest Posts
AirDNA: Earn More Airbnb Revenue With This Powerful Tool
Where to Store Your Money | White Coat Investor
Article information
Author: Edwin Metz
Last Updated:
Views: 5609
Rating: 4.8 / 5 (78 voted)
Reviews: 93% of readers found this page helpful
Author information
Name: Edwin Metz
Birthday: 1997-04-16
Address: 51593 Leanne Light, Kuphalmouth, DE 50012-5183
Phone: +639107620957
Job: Corporate Banking Technician
Hobby: Reading, scrapbook, role-playing games, Fishing, Fishing, Scuba diving, Beekeeping
Introduction: My name is Edwin Metz, I am a fair, energetic, helpful, brave, outstanding, nice, helpful person who loves writing and wants to share my knowledge and understanding with you.