Purpose: Bangladesh’s RMG sector underpins national economic stability but
frequently confronts shocks, such as the MFA phase-out, industrial disasters like
Rana Plaza, COVID-19 disruption, and geopolitical tensions. These events have
fueled inflation, currency devaluation, and fluctuating export earnings. This study
explores survival and growth strategies, suggesting policy actions for sustained
competitiveness. It also recommends workforce development and collaboration
with international partners to strengthen the sector’s global standing.
Methodology: This study deliberately eschews fresh field surveys and intricate
econometric models, opting instead for a visually driven, contextual analysis to
illuminate the evolution of the readymade garment sector. Drawing on government
statistics and industry white papers, it chronicles the industry’s expansion, its
periods of turmoil, and its subsequent recoveries. De Marchi’s (2023) analytical
framework underpins the assessment of the sector’s capacity to absorb shocks,
adapt to shifting conditions, and regain momentum.
Findings: Although disruptions caused transient drops in export earnings, overall
performance remained stable. Key contributors to resilience included proactive
strategic adjustments, adherence to international compliance protocols, and strong
governmental support.
Practical Implications: Timely risk identification and swift policy responses,
particularly in labor safety and factory compliance, foster market confidence.
Government interventions, such as policy incentives and subsidized loans, bolster
the industry against currency volatility and inflation. Future strategies may involve
diversifying export destinations, modernizing technology, and enhancing
workforce skills for global competitiveness.
Originality/Value: This research offers a comprehensive view of how the RMG
sector endures recurrent challenges, providing valuable guidance for
policymakers, industry stakeholders, and international collaborators in fostering
long-term sustainability.
Limitations: Dependence on secondary data may constrain the depth of insight.
Real-time field investigations could enrich understanding of on-the-ground
resilience practices and validate the sector’s adaptive measures. Future research
could incorporate additional quantitative metrics.
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