The ready made garment sector in Bangladesh is a multi-billion-dollar manufacturing and export industry. With about 4.4 million workers employed in the sector, about 80 percent of whom are women, the growth of the garment industry has far-flung implications for the economy. The RMG sector alone does export worth $21.5 billion a year, which is 79 percent of the total export earnings of our country. Given the dominance of the sector in the overall economy, any sort of vulnerability and threat to this sector should be a matter of concern. So rather than basking in glory we should concentrate on retaining sustainable growth and competitive edge.
Over the last three decades, our apparel industry has achieved a phenomenal growth due to policy support from the government, dynamism of the private sector entrepreneurs and extremely hardworking workers. Now the number of RMG units is more than 5,000 and export earnings have reached $22 billion with more than one hundred countries using 'made in Bangladesh' knit garments and woven products.
The key prospect for growth of our garment industry lies in the size of the global apparel market, which is gradually growing bigger. According to a recent report, the global apparel market will cross the $2 trillion mark by 2025 from the current value of $1.1 trillion. So there is a great opportunity for us to further penetrate the global apparel market and boost our export earnings.
Despite the epic growth of our industry and its bright prospects, challenges are still there. However, we always believe that challenges can be turned into opportunities if they are addressed with steely determination and pragmatic steps and such instances are galore in our history.
Considering above, SFCS coupled a good number of professional and technical expertise along with extensive industry knowledge to provide the sustainable total solutions to establish a Garments Factory with cost effective manner.