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SWOT Analysis of Bangladeshi Apparel Industries Compared to Global Market

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DOI: 10.11648/j.ijefm.20200804.13

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International Journal of Economics, Finance and Management Sciences
2020; 8(4): 146-155
http://www.sciencepublishinggroup.com/j/ijefm
doi: 10.11648/j.ijefm.20200804.13
ISSN: 2326-9553 (Print); ISSN: 2326-9561 (Online)

Review Article
SWOT Analysis of Bangladeshi Apparel Industries
Compared to Global Market and a Comprehensive Scenario
Nazif Hasan Chowdhury1, Abu Sayed Rafi2, Sumaiya Siddika3, Golam Kibria4, Tarikul Islam2, *
1
Department of Textile Engineering, Port City International University, Chittagong, Bangladesh
2
Department of Textile Engineering, Jashore University of Science and Technology, Jashore, Bangladesh
3
Department of Economics, Mawlana Bhashani Science and Technology, Tangail, Bangladesh
4
Department of Apparel Manufacturing and Technology, BGMEA University of Fashion & Technology, Dhaka, Bangladesh

Email address:

*
Corresponding author

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

Received: June 29, 2020; Accepted: July 16, 2020; Published: July 28, 2020

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

1. Introduction sector has been leading the country’s Gross Domestic

Products, Exports and thus economy and also helping to
Since the sanguinary clash and the liberation of Bangladesh, increase Per Capita Income and thus to decrease poverty rate
the textile sector has been lifting the flag of Bangladesh and simultaneously which dropped down to 24.3% from 31.5%
hoisting it boldly in front of the world and its habitants [1]. from 2010 to 2016 [2]. Moreover, for this astonishing
The revolution began as part of the south Asian dominance performance and consistency Bangladesh now sits as the
over the cotton industries, jute industries; ready-made second largest ready-made apparel exporter of the world [3].
garments industries et cetera broadly known as the Textile In addition, the Gross Domestic Product of Bangladesh is
industry. And since the 21st century, the readymade garments estimated to see a growth of about 8% in 2020 [4]. Moreover,
147 Nazif Hasan Chowdhury et al.: SWOT Analysis of Bangladeshi Apparel Industries Compared to Global
Market and a Comprehensive Scenario

Textile industry also provides jobs to about 552K workers of followed by weakness, opportunities and threat.
which about 54% are female [5].
The south Asian countries were known to the rest of the 2.1. Strength
world especially for its cheap labor. During the post-world 2.1.1. Strength of Bangladeshi Garments Industry
war II era, industrialization had been started on a large scale in The RMG sector of Bangladesh is the breadwinning source
the then colonial territories of the eastern part of the world [6]. for about 4 million workers associated with more than 4000
The rate boomed in the seventies when the Soviet garments factories who are taking parts to obtain more than 83
Union-United States of America cold war for space percent of the country's exports and approximately 16 percent
conquering began [7]. As a result, industrialization rate began to the GDP [21]. The strengths are,
to rise in the least developed countries or the "Third World 1) Less labor cost [22]
Countries" [8]. Then with time Bangladesh like its 2) Energy at relatively lesser price
neighboring South Asian countries grabbed the spotlight and 3) Freely accessible infrastructure like railway, sea, river
have been playing as one of the leading players in this field of and air route.
world of Apparel exporting [9]. Plus energy in Bangladesh is 4) Has a great number of pre-export financing
comparatively cheaper [10, 11]. For all these, Bangladeshi organizations for guidance.
RMG has been booming since its birth after the liberation war 5) Reasonably open economy, particularly in the Export
in 1971 [12]. But with strength come weaknesses. Processing Zone.
Bangladeshi readymade garments sector's main competition is 6) Several associations like BGMEA, BKMEA, and
given by Vietnam who has become successful to take the BEPZA etc. to build the tight collaboration with various
attention of investors affiliated with Chinese readymade connected organizations [17].
garments industries [13, 14]. Moreover India and declining 7) Duty free access to some of the largest market of the
China still gives Bangladesh a tough time in the readymade world like EU, USA.
garments exporting arena. To make this into dilemma, the 8) Thinness of currency opposed to dollar/euro, helping
minimum wage for garments workers has been risen 51% than exporters to earn subtle profit.
before which has been effecting on since December, 2018 [15]. 9) Convince of duty free custom bonded warehouses.
If these weaknesses aren't addressed and taken into measure
properly, these weaknesses will become a threat to our 2.1.2. Strength of Indian Garments Industry
existing castle of readymade garments sector and our Indian textile industry is as old as the word textile itself.
readymade garments sector will start to decay. Close to 14% of the output of the industry and 30% of the
To cope with the coming challenges in the readymade export market share is contributed directly by the Indian
garments industries, Bangladeshi garment owners must need a textile industry. Its strengths are,
strategic approach [16]. To deal with a crisis, one must travel 1) High textile production capacity
to the depth of the problem. To find the root and to get what is 2) Proficient multi-fiber raw material manufacturing capacity
fertilizing the problem. We must learn the good sides of our 3) Large pool of efficient and inexpensive work force
situations and what the good factors can offer us in the future 4) Entrepreneurial knowledge with experiences
that can be counted as opportunities [17]. We also need to 5) Heavy export capacity
have sound knowledge about the negative sides of our 6) Greater domestic market
situation and what kind of threats it might create in the coming 7) Lower import content
future. It must be learnt by us to cover up and to mitigate the 8) Tangible Ready-made garments manufacturing system
weaknesses and threats of our situation with positive sides of
the situation and with necessary arrangements and precautions. 2.1.3. Strength of Chinese Garments Industry
So in this case, we are analyzing the situation by using SWOT China has been the most influential figure in the world of
analysis. We will be discussing our strengths, weaknesses, apparel manufacturing. Its strengths are,
opportunities and threats along with that of Indian readymade 1) Abundant skilled man force
garments sector, Chinese readymade garments sector and 2) Low Lead Time
Vietnamese readymade garments sector [18, 19]. 3) Efficient transportation system
4) Quick port clearance
5) Strong infrastructure
2. Methodology 6) Large domestic market
SWOT is a strategic planning technique that is elaborated as 7) Availability of almost every kind of raw materials
strength, weakness, opportunities and threat [20]. Although 8) Tangible ready-made garments manufacturing system [23]
there are certain strategic planning techniques such as PEST, 9) Simple financing policy
PESTEL, Porter five forces, Growth-share matrix etcetera, 10)Great marketing skill
none of them can explain current status quo of Bangladeshi 11)Technologically advanced factories [24]
Apparel Industries in comparison to global market (especially 12)Available land and worker
China, India, Vietnam) better than SWOT analysis. To analyze 13)High market value
better the strength of the countries were taken into account 14)Variety of products
 International Journal of Economics, Finance and Management Sciences 2020; 8(4): 146-155 148

2.1.4. Strength of Vietnamese Garments Industry oversupply at home, high labor costs, and rising global
Vietnam has been a wildcard in the apparel manufacturing protectionism have all eroded its competitiveness. The
world for more than a decade. Its strengths are, weaknesses are below,
1) Minimal labor cost [25] 1) Limited Brand Awareness [23]
2) Highly skilled workforce 2) Lack of Classic luxury style
3) Good transportation facility 3) Low social media presence
4) Good lead time management
5) Business friendly foreign investment law 2.2.4. Weakness of Vietnamese Garments Industry
6) Available worker and land Vietnam doesn’t have the cheapest of laborers. They
7) Strong infrastructure visualize the manufacturing cost of their garment to be
8) Good variety of products significantly cheaper than their China price. More often than
not they are disappointed because of the Vietnamese apparel
2.2. Weakness manufacturing weakness. The Vietnam price is the same or
more than their China price. Its weaknesses are,
2.2.1. Weakness of Bangladeshi Garments Industry 1) Very high price because of fast changes
The leading obstacles of ready-made garments are low net 2) Small series with a large number of models
exporting, low value addition, low quality and standard, low 3) Bad covering of foreign market
productivity, elimination of quota and GSP, intense 4) High price of energy
competition, scarcity of backward linkage industries etc. to 5) Short time for optimal of product
comply with the set standards by the importing countries. 6) Condition and price rise of raw material because of
Weaknesses of Bangladeshi Industry are as follows: introducing vat.
1) Longer lead time.
2) Lack of marketing tactics 2.3. Opportunities
3) Weak infrastructure
4) Lack of sea port capacity 2.3.1. Opportunities of Bangladeshi Garments Industry
5) Political instability Bangladesh has always been a land of opportunities.
6) Small number of manufacturing methods Bangladesh's textile industry has been part of the trade versus aid
7) Petty number of product variety debate. The encouragement of the garment industry of Bangladesh
8) Lack of training organizations for industrial workers, as an open trade regime is argued to be a much more effective form
supervisors and managers of assistance than foreign aid. Opportunities are below,
9) Autocratic approach of nearly all the investors 1) The EU is willing to establish industries in a big way as
10)Absence of easily on-hand middle management an option for China particularly for knits, including
11)Fewer process unit of textile and garments sweaters.
12)Speed money culture 2) Bangladesh is included in the least developed countries
13)Time consuming custom clearance. with which the US is committed to enhance export trade.
14)Subject to natural climate. 3) If a skilled technician is available to instruct, prearrange
15)Incomplete port, entry / exit complicated and loading / garments is an option because labor and energy cost is
unloading takes much time inexpensive.
16)Communication gap created by the lack of English 4) Chittagong port is going to be handed over foreign
knowledge operators, which will make the port service faster.
5) Bangladesh is gaining its political stability.
2.2.2. Weakness of Indian Garments Industry
Weaknesses like fragmented infrastructure, rigid labor laws, 2.3.2. Opportunities of Indian Garments Industry
technology obsolescence and many others have pulled Indian Although India has a few bumps in the road, the future of
garments industries from behind. They are below, their garments industry also has opportunities. They are,
1) Increased global competition in the post 2005 trade 1) The trade is growing between regional trade blocs due to
regime under WTO bilateral agreements between participating countries.
2) Imports of cheap textiles from other Asian neighbors 2) ‘Supply Chain Management’ and ‘Information Technology’
3) Use of outdated manufacturing technology [26] has a crucial role in apparel manufacturing. Availability of
4) Poor supply chain management EDI (Electronic Data Interchange), makes communication
5) Huge unorganized and decentralized sector fast, easy, transparent and reduces duplication.
6) High production cost with respect to other Asian 3) India has the opportunity to increase its UVR’s (Unit
competitors Value Realization) through moving up the value chain by
producing value added products and by producing more
2.2.3. Weakness of Chinese Garments Industry and more technologically superior products.
China’s apparel makers are going through a painful
industrial restructuring. While the country is still the world's 2.3.3. Opportunities of Chinese Garments Industry
largest clothing exporter with enormous production capacity, China has the leading phase going and still has some unused
149 Nazif Hasan Chowdhury et al.: SWOT Analysis of Bangladeshi Apparel Industries Compared to Global
Market and a Comprehensive Scenario

opportunities left in its tally. foreign players thus the domestic market will suffer.
1) Chinese expansion would boost company growth
2) Consumers are increasingly valuing brand quality rather 2.4.3. Threats of Chinese Garments Industry
than just brand name alone China's textile and apparel makers are going through a
3) They are already very advanced in technology which painful industrial restructuring. China's market share by value
may help in garments production factories [23]. in the global textile and clothing industry fell from 38.6 per
4) China has several ports with a huge capacity and cent in 2015 to 35.8 per cent in 2016, with a downward trend
efficiency which attract buyer for faster delivery. in major apparel importing regions such as the US, European
Union and Japan. Their threats are,
2.3.4. Opportunities of Vietnamese Garments Industry 1) Competing luxury brand
Vietnam has not been as good as China, Bangladesh or 2) Counterfeit product
India but they still have a lot of sustainable opportunities [27]. 3) High tax on luxury goods
They are,
1) Consumer wish for new design 2.4.4. Threats of Vietnamese Garments Industry
2) Marketing of products into a new market The growing prices of electricity and transportation, along
3) Making e mail catalogue with an increase in minimum wages are now becoming bigger
4) Value of labor causes of headache to the industry players. Therefore, despite
5) Production of garments made to measure remaining global demand, the industry faces many challenges.
6) Promote technology transfer and knowledge The threats include,
1) Import of similar articles of clothing at low price
2.4. Threats 2) Competitors have low price
3) Competitors have better distribution net with sales places
2.4.1. Threats of Bangladeshi Garments Industry 4) Quick obsolescence of technology [27]
Bangladesh has a great number of rising threats emerging 5) Global financial crisis
which needs to be eliminated as fast as possible. They are, 6) Customer service difficult to maintain
1) Political unrest situation of the country.
2) Rise of price of raw materials [22].
3) Environmental pollution is a threat for survival. 3. Results and Discussion
4) Labor unrest in RMG factories. 3.1. Minimum Labor Wage Comparison
5) Capability to hold the market for the long term future.
6) Financial supports [28]. Figure 1 shows the minimum labor wage comparison of
7) Complicated documentation process. Bangladeshi, India, China and Vietnam from 2016 to 2019
[29]. While all the countries’ minimum wages have increased
2.4.2. Threats of Indian Garments Industry with time, the number is still lower for India and Bangladesh,
As India is a large country, it is comparatively unorganized 74.67 and 94.66 USD respectively as per 2019. Whereas, for
than other apparel exporter countries, which can be a real Vietnam, the number is 180 USD and for China it is 354.4 at
threat [24]. Some other threats including, the end of the decade. To sum up, the minimum wage is low
1) Formations of trading blocs like NAFTA, SAPTA, etc. for Bangladesh because of the differences between USD-Taka
has resulted in a change in the world trade scenario. transitions and is helping the industry owners milking more
Existence of bilateral agreements would result in profit and thus contributing more to the Gross National
significant disadvantage for Indian exports. Income, performing as a catalyst of strength.
2) India will have to open its protected domestic market for

[Source: Trading Economics]

Figure 1. Minimum labor wage comparison.
 International Journal of Economics, Finance and Management Sciences 2020; 8(4): 146-155 150

3.2. Transportation Comparison been able to hold the 26th position consecutively with rating
3.66 and 3.61. Besides, India has faced downfall from being
Figure 2 illustrates the transportation comparison of LPI positioned 34th in 2016 with rating 3.42 to being positioned 44th
ranking which is recorded bi-yearly of Bangladesh with other in 2018 with rating 3.18. Vietnam, on the other hand has been
three countries [30]. It can be seen from the graph that promoted up in ranking from being 63th with rating 2.98 in 2016
Bangladesh is the lowest ranked country of LPI ranking which to being 39th with a higher rating of 3.27 in the latter years. The
has been carrying the lowest ranking from 2016 to 2018 with comparison suggests that Bangladesh is way back in terms of
respectively 2.66 and 2.58 rating out of 5, deteriorating over the transportation facilities and has scopes for improvement.
years. On the other hand, the best rank goes to China which has

[Source: World Bank]

Figure 2. Transportation comparison.

3.3. World Clothing Export Overview China steadily deteriorating its numbers of clothing exporting
from 161 billion dollar in 2016 to 158 billion in 2018. The
3.3.1. Contribution to World Clothing Export graph also shows Vietnam as a potential contender for the 2nd
From Figure 3, it summarizes the comparison among position with gradual growth in clothing exporting from 25
Bangladesh and other three countries on contribution to world billion in 2016 to 32 billion dollar in 2016. It further shows
clothing export with data from the world trade organization’s India’s declining performance as 4th in the list, barely holding
yearly statistical review [31]. It shows Bangladesh on with time. The summary paints a picture where Bangladesh
successfully retaining the 2nd position in the world clothing is nearly at the end of elastic zone in terms of holding existing
export ranking with exporting clothing worth 28 billion dollar markets and is in desperate need to renovate the textile sector.
in 2016 which increased to 32 billion dollar in 2018. It shows

[Source: World Trade Organization]

Figure 3. Contribution to world clothing export.

countries with data from the world trade organization’s yearly

3.3.2. Market Share statistical review [31]. It shows Bangladesh in a steady 2nd
From Figure 4, it indicates the market share of clothing position with an average of 6.4% of market share from 2016 to
exporting held by the top four shareholding individual 2018. China emerged as 1st in the ranking although its share
151 Nazif Hasan Chowdhury et al.: SWOT Analysis of Bangladeshi Apparel Industries Compared to Global
Market and a Comprehensive Scenario

percentage declined from 36.4% to 31.3% in 2018. As seen in approves India in 4th position with a market share of 3.3% in
other parameters, Vietnam is coming strongly for 2018. It says that in order to maintain dominance over the
Bangladesh’s position of number 2 with a market share of 6.2% world market, Bangladesh needs to create new marketplaces
as for 2018 which was 5.5% two years ago. The graph also for their products.

[Source: World Trade Organization]

Figure 4. Market Share.

3.4. Employment Percentage Comparison 2019. China, here also holds the best numbers of 28.2% of
employment recorded in 2019. It had been 28.8% in 2016,
3.4.1. Employment Percentage in Industries 28.1% in 2017 and 28.2% in 2018. Vietnam and India were
From Figure 5, it shows the employment percentage in in similar states with 24.8% and 24% of employment in
industries of the four countries where almost two-third industries in 2016. It went uphill for both Vietnam and
industries are garment industries [32]. It analyzes the data India from there, more for Vietnam than India with 27.6%
collected from the World Bank’s databank that shows and 25.5% respectively. To sum up, the data suggests that
Bangladesh with the least participation of workforces in the Bangladesh has scopes and need to create more jobs
industries aka garments factories with 20.5%, 20.4% and regarding the textile sector where the government surely
20.8% of employment in industries in 2016, 2017 and 2018 has a huge part to play.
respectively. Over time, the number increased to 21.3% in

[Source: World Bank: Databank]

Figure 5. Employment percentage in industries.

industries recorded 17.8% in 2019 which was 15.9% in 2016,

3.4.2. Employment Percentage in Industries for Female 16.8% in 2017 and 17.3% in 2018. It also shows China with the
From Figure 6, it visualizes the female employment highest number of female employment with 25.3% in 2019.
percentage in industries of the selected countries with data However, the number is deteriorating over time as it was 25.6%,
collected from the World Bank’s Databank [32]. It shows 25.5% and 25.3% in 2016, 2017 and 2018 respectively. India has
Bangladesh has a growth in employment for female workers in
 International Journal of Economics, Finance and Management Sciences 2020; 8(4): 146-155 152

a slow rise in employment for females of 17.6% in 2019 which textile sector is a potential field for women empowerment in
was 17.3% in 2016. On the other hand, Vietnam saw a rapid Bangladesh and need to be nurtured and observed for any kinds
increase of female employment rate in industries from 20.8% in of violations of rights especially on account of women.
2016 to 23.2% at the end of 2019. The facts point out that the

[Source: World Bank: Databank]

Figure 6. Employment percentage in industries for female.

3.5. Port Facilities facilities with its best port being 64th worldwide in 2019. It shows
China always being the country with the best port of the world. It
3.5.1. Ranking Comparison of Best port of an Individual also shows Vietnam and India in 2nd and 3rd position respectively
Country with 25th and 28th ranked port worldwide up to 2019. It deduces
From Figure 7, it tells us the ranking comparison of the best that Bangladesh can do better in the world clothing exports if it
port of the mentioned individual countries with data collected can have better port facilities like any of its competitors.
from internationally renowned port ranking website Lloyd’s list
[33]. It shows that Bangladesh has the least advanced port

[Source: Lloyd’s List]

Figure 7. Ranking comparison of best port of an individual country.

with 22 ports in the list. Vietnam and India are tied for 2nd
3.5.2. Port Facilities (in Top 100) place with 2 ports. Bangladesh has only one port in the top 100
The Figure 8 illustrates number of ports of an individual of according to the list. It suggests that Bangladesh need to
the selected countries according to the statistical review of provide more ports with standard features to cope with ever
Lloyd’s list website in 2019 [33]. It shows China ranked as 1st changing textile sector.
153 Nazif Hasan Chowdhury et al.: SWOT Analysis of Bangladeshi Apparel Industries Compared to Global
Market and a Comprehensive Scenario

[Source: Lloyd’s List]

Figure 8. Number of ports in top 100.

3.6. Contribution to GDP 3.45% and 3.41% respectively. The rate didn’t change
significantly for India. In China the rate of RMG sectors
From Figure 9, it is found that RMG sectors contribution to contribution to GDP in fiscal year 2016, 2017 and 2018 is 6.2%,
GDP of Bangladesh is 15.47% in fiscal year (FY) of 2016. In 6.9% and 6.5% respectively. The rate didn’t change significantly
Fiscal Year 2017 it reduces to 13.95% and in fiscal year 2018 it in China either. The rate of RMG sector’s contribution to GDP in
further reduces to 13.37%. It can be noted that there has been a Vietnam in fiscal year 2016, 2017 and 2018 has been 8.5%, 8.7%,
gradual digression in the rate of RMG sectors contribution to 9.1% respectively. So in Vietnam, the rate gradually increased
GDP in Bangladesh. In India the rate of RMG sectors which should be a lesson for Bangladesh.
contribution to GDP in fiscal year 2016, 2017 and 2018 is 3.16%,

Figure 9. Contribution to GDP.

of wages and salary, we are still ahead of our competitor

3.7. Discussion countries in this sector. Now we have enough skilled workers
The main purpose of this SWOT analysis and comparison is and officials.
to get the real scenario of Bangladesh garments industries Things have changed; we have the most compliance
compared to the countries competing with us, like China, factories. The investors are also focusing on factory safety and
India, and Vietnam. We have analyzed the Strengths, the working environment. But we have to develop our lead
Weakness, Opportunities and Threats of each country time management.
individually. Here each of them is good competitor with lots Roads and other transportation should be developed. China
of strengths, opportunities, weakness and threats as well. The and India are quite ahead in this perspective. We have to deal
scenario of working environment, GDP contribution, Labor with a lot of hidden costs. It’s a concern of the government to
cost is quite good but we have to increase our Export volume, take care of it. Health hazards are another problem we have to
improve transportation, Port facilities and Lead time. In case deal with.
 International Journal of Economics, Finance and Management Sciences 2020; 8(4): 146-155 154

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