SWOT Analysis of Bangladeshi Apparel Industries Compared to Global Market and a Comprehensive Scenario
International Journal of Economics, Finance and Management Sciences
Volume 8, Issue 4, August 2020, Pages: 146-155
Received: Jun. 29, 2020; Accepted: Jul. 16, 2020; Published: Jul. 28, 2020
Views 138      Downloads 124
Authors
Nazif Hasan Chowdhury, Department of Textile Engineering, Port City International University, Chittagong, Bangladesh
Abu Sayed Rafi, Department of Textile Engineering, Jashore University of Science and Technology, Jashore, Bangladesh
Sumaiya Siddika, Department of Economics, Mawlana Bhashani Science and Technology, Tangail, Bangladesh
Golam Kibria, Department of Apparel Manufacturing and Technology, BGMEA University of Fashion & Technology, Dhaka, Bangladesh
Tarikul Islam, Department of Textile Engineering, Jashore University of Science and Technology, Jashore, Bangladesh
Article Tools
Follow on us
Abstract
In this project work, from the top readymade garments or apparel exporter countries, three countries like China, Vietnam and India are taken with Bangladesh for comparison. For the work, SWOT analysis method is used to find Strength, Weakness, Opportunities and Threats for the apparel industry of each country. Information and data are collected from reliable sources like the statistics and rankings of the World Bank, WTO, WLO, different journals which are published internationally. The aim of this study is to determine the genuine present scenario of Bangladeshi apparel industry compared to the competitor countries and to study how we are improving compared to them. This work indicates the specific points where we have to improve immediately and the points that we have to take really good care of. Hence as a result after conducting the SWOT analysis the obtained information and all the data, tables and graphs illustrate that the scenario of the Bangladeshi apparel sector is in satisfactory position though the alarming thing is that the competitor countries are putting more effort to improve their condition and they are getting it rapidly. On the other hand, our effort is less and we are not improving significantly except our recent compliance, GDP and green factory initiatives. In this work we find out a solution by analyzing which points are needed to work on for sustaining as a tough competitor in the apparel exporter market share for a longer period and to make maximum export earnings.
Keywords
Apparel Industry, Export Earnings, Gross Domestic Product (GDP), Market Share, Ready-Made Garments (RMG), SWOT Analysis
To cite this article
Nazif Hasan Chowdhury, Abu Sayed Rafi, Sumaiya Siddika, Golam Kibria, Tarikul Islam, SWOT Analysis of Bangladeshi Apparel Industries Compared to Global Market and a Comprehensive Scenario, International Journal of Economics, Finance and Management Sciences. Vol. 8, No. 4, 2020, pp. 146-155. doi: 10.11648/j.ijefm.20200804.13
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
References
[1]
Hassan, F. "Bangladesh Marching Ahead with RMG Industry," Daily Sun, 06 January 2018. Retrieved from: www.daily-sun.com/post/280126/Bangladesh-Marching-Ahead-with-RMG-Industry
[2]
Hasibul Islam, ATM. Basher, SA. & Haque, AKE. (2019). "The Impact of Mobile Money on Long-Term Poverty: Evidence from Bangladesh," Munich Personal RePEc Archive, 09 December 2019. Retrieved from: https://mpra.ub.uni-muenchen.de/97466/
[3]
Farhana, K. Syduzzaman, M. & Munir, MS. (2015). "Present status of Workers in ready-made Garments industries in Bangladesh," European Scientific Journal, ESJ, vol. 11, no. 7, pp. 564-574. Retrieved from: https://eujournal.org/index.php/esj/article/download/5341/5165
[4]
Rooney, K. "Here’s what you need to know about Bangladesh’s rocketing economy," The World Economic Forum, 19 November 2019. Retrieved from: www.weforum.org/agenda/2019/11/bangladesh-gdp-economy-asia/
[5]
Henry-Greard, A-L. "Better Work Bangladesh News Letter - Issue 1, 2020," International Labour Organization, 09 January 2020. Retrieved from: www.ilo.org/dhaka/Informationresources/Publicinformation/newsletters/WCMS_734027/lang--en/index.htm
[6]
Truitt, JF. (1970). "Expropriation of Foreign Investment: Summary of the Post World War II Experience of American and British Investors in the Less Developed Countries," Journal of International Business Studies, vol. 1, no. 2, pp. 21-34, 1970. https://doi.org/10.1057/palgrave.jibs.8490714
[7]
J. Sherman, J. (2004). “The Cold War: Chronicle of America's Wars,” Minneapolis: Lerner Publications Company, 2004. Retrieved from: https://archive.org/details/coldwar0000sher
[8]
Chandra, R. (1992). “Industrialization and Development in the Third World,” London: Routledge, 1992. https://doi.org/10.4324/9780203169247
[9]
Seher, K. Aftab, AS. Hussain, PM. & Turan, (2018). A. "SWOT analysis of Pakistan’s textile and clothing industry," Industria Textila, vol. 69, no. 6, pp. 502-510, 2018. https://doi.org/10.35530/IT.069.06.1488
[10]
Akhlaq, MA. (2009). "SWOT analysis of the textile industry of Pakistan," Pakistan Textile Journal, pp. 37-39, 2009. Retrieved from: https://ptj.com.pk/Web-2009/08-09/PDF-August-2009/Mohammed-Ather-Akhlaq.pdf
[11]
Rabiya, J. Arshia, I. Ayesha, S. & Tanzila, S. (2014). "Swot Analysis of Textile Industry in Pakistan," Asian Journal of Research in Business Economics and Management, vol. 4, no. 9, pp. 76-87, 2014. https://doi.org/10.5958/2249-7307.2014.00916.5
[12]
Yunus, M. & Yamagata, T. (2012). "The Garment Industry in Bangladesh," Dynamics of the Garment Industry in Low-Income Countries: Experience of Asia and Africa (Interim Report). Chousakenkyu Houkokusho, IDE-JETRO, 2012. Retrieved from: www.academia.edu/download/34178208/410_ch6.pdf
[13]
Ahmed, HU. "RMG growth: Battling the challenges," The Daily Star, 28 December 2019. Retrieved from: www.thedailystar.net/opinion/economics/news/rmg-growth-battling-the-challenges-1846036
[14]
Khan, SS. "Next challenges of Bangladesh's RMG," The Financial Express, 11 February 2020. Retrieved from: www.thefinancialexpress.com.bd/views/next-challenges-of-bangladeshs-rmg-1581434537
[15]
Paul, R. "Bangladesh raises wages for garment workers," Reuters, 13 September 2018. Retrieved from: www.reuters.com/article/us-bangladesh-garments-idUSKCN1LT2UR
[16]
Duarte, AYS. (2018). "Future Trends in Production and Consumption in Textile," Latest Trends in Textile and Fashion Designing, vol. 1, no. 1, pp. 5-6, 18 January 2018. https://doi.org/10.32474/LTTFD.2018.01.000102
[17]
Khan, AN. Nizam, EH. & Sajib, TH. "A SWOT Based Study for the Improvement of Bangladeshi RMG Industry," Latest Trends in Textile and Fashion Designing, vol. 1, no. 4, pp. 75-79, 2018. https://doi.org/10.32474/LTTFD.2018.01.000118
[18]
Saxena, DSB. & Salze-Lozac’h, V. (2010) "Competitiveness in the Garment and Textiles Industry: Creating a supportive environment, A Case Study of Bangladesh," The Asia Foundation, Barkeley, California, 2010. Retrieved from: https://asiafoundation.org/resources/pdfs/1OccasionalPaperNo.1BGGARMENTwithCover.pdf
[19]
Alauddin, M. Tanvir, SI. & Mita, F. (2013). "Factors Which Affecting Customer Satisfaction in the Garment Industry of Bangladesh," International Journal of Marketing Studies, vol. 5, no. 5, pp. 64-74, 6 August 2013. https://doi.org/10.5539/ijms.v5n5p64
[20]
Talib, MSA. & Hamid, ABA. (2014). "Halal Logistics in Malaysia: A SWOT Analysis," Journal of Islamic Marketing, vol. 5, no. 3, pp. 322-343, 2 September 2014. https://doi.org/10.1108/JIMA-03-2013-0018
[21]
Uddin, M. "The next chapter for our RMG sector," The Daily Star, 01 June 2018. Retrieved from: www.thedailystar.net/opinion/perspective/the-next-chapter-our-rmg-sector-1584409
[22]
Hossain, MS. Lopa, NZ. & Rahman, MS. (2018). "Chinese Investment in Bangladeshi RMG Sector," African Journal of Business Management, vol. 12, no. 16, pp. 518-526, 2018. https://doi.org/10.5897/AJBM2018.8605
[23]
Han, H-H. Mi, L-Y. Yang, T. & Luo, X. (2017). "Research on Countermeasures for the Upgrade and Transformation of Garment Industry in China," in the 3rd Annual 2017 International Conference on Management Science and Engineering (MSE 2017), Guilin, Guangxi, China, 2017. https://doi.org/10.2991/mse-17.2017.8
[24]
Sharma, MM. & Sehgal, S. (2015). "Indian Textile Industry: A SWOT analysis," Journal for Studies in Management and Planning, vol. 01, no. 06, pp. 103-122, July 2015. Retrieved from: https://internationaljournalofresearch.com/journals/journal-for-studies-in-management-and-pl nning
[25]
Duong, NTT. (2016). "Business Plan for Starting up a Fashion Business in Vietnam," THESEUS, 2016. Retrieved from: https://urn.fi/URN:NBN:fi:amk-2016120118630
[26]
Saxena, A. & Tripati, PS. (2015). "Indian garment export industry: an overview," The Journal of Indian Management & Strategy, vol. 20, no. 1, pp. 49-54, 4 March 2015. https://doi.org/10.5958/0973-9343.2015.00007.1
[27]
Khalid Nadvi, John Thoburn, Bui Tat Thang, Nguyen Thi Thanh Ha, Nguyen Thi Hoa & Dao Hong Le, "Challenges to Vietnamese firms in the world garment and textile value chain, and the implications for alleviating poverty," Journal of the Asia Pacific Economy, vol. 9, no. 2, pp. 249-267, January 2004. https://doi.org/10.1080/1354786042000207362
[28]
Hossain, MT., Islam, MN., Saber-E-Montaha, M. & Moon, JM. (2018). "Branding of Bangladeshi Apparel Products in International Market: A Survey," Global Journal of Management and Business Research, vol. 18, no. 01, pp. 14-18, 2018. Retrieved from: https://journalofbusiness.org/index.php/GJMBR/article/view/2426
[29]
Trading Economics, Retrieved from: https://www.tradingeconomics.com
[30]
World Bank, Retrieved from: https://lpi.worldbank.org/international/global
[31]
World Trade Organization, Retrieved from: https://www.wto.org
[32]
World Bank: Databank, Retrieved from: databank.worldbank.org
[33]
Lloyd’s List, Retrieved from: https://www.lloydslist.com
ADDRESS
Science Publishing Group
1 Rockefeller Plaza,
10th and 11th Floors,
New York, NY 10020
U.S.A.
Tel: (001)347-983-5186