Export Sector Performance in Bangladesh

Abstract

Bangladesh is a developing country. Here, exports are a potential weapon for the development of an economy. Ready-made garments (RMG) are one of the primary exports from Bangladesh, among other goods. The most robust sector of Bangladesh's economy in terms of GDP (gross domestic product), employment, growth, and foreign exchange gains is the ready-made garments (RMG) industry. Ready-made garments (RMG) revenue from exports, which accounts for about 80% of Bangladesh's overall export earnings, has been identified as the main engine behind the nation's recent progress. During the COVID-19 pandemic, the Bangladesh export sector slowed down because of disruptions to export outflows, delays in import inflows, a halt to outmigration, a near-total lack of tourist arrivals, a detachment from business contacts, and increasing uncertainty surrounding investment flows. After the pandemic situation, the external sectors of Bangladesh gradually improved day by day. This study aims to identify different aspects of Bangladesh's export performance using time series data, primarily focusing on the ready-made garments sector of the economy. Bangladesh's export performance was gradually improving.