International Journal of Applied Research
Vol. 2, Issue 9, Part B (2016)
Impact of recession on ready-made garments of Bangladesh: A critical analysis
Md. Kamal Hossain, Masud Rana and Faysal Ahmed
The Ready-Made Garments (RMG) industry occupies a unique position in the Bangladesh economy. It is the largest exporting industry in Bangladesh, which experienced phenomenal growth during the last 25 years. Generally due to recession all the countries around the globe fell into the difficult situation and taking various steps to recover from it. Recession is a general downturn in any economy. It is associated with high unemployment, slowing gross domestic product, and high inflation. But Bangladesh showed the prominent growth in the earning of foreign exchange through exporting of readymade garments, foods and textiles. It is argued that this favorable outcome is due to two factors. First, the exports of Bangladesh are almost entirely consumer goods whose demand does not fall as sharply as income; and second, Bangladesh has acquired a competitive edge in the world apparel market. In this paper, we exploited the ways, concept and techniques which helped us a lot to overcome the difficulties and able to stabilize our economic improvement.
How to cite this article:
Md. Kamal Hossain, Masud Rana, Faysal Ahmed. Impact of recession on ready-made garments of Bangladesh: A critical analysis. Int J Appl Res 2016;2(9):85-90.