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The main industry of Bangladesh is the textile and garment sector, which is the largest contributor to the country's economy. While jute was historically significant and remains a notable crop, the textile industry has grown to dominate exports, employing millions and making Bangladesh one of the world's leading garment producers. The focus on textiles has driven economic growth and development in recent decades.
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What are the major industries of Pakistan?
Textile Industry is the main Industry. Other prominent industries include mining, construction, and Fuel extraction industry. Telecommunication and IT industry is also in boom in Pakistan.
What is Maine's main industry?
Maine has many products that employ the people of this state. The main industry in Main is paper. The state has many paper mills that produce paper.
What was the Caribbean Islands' main industry during the colonial period?
The main industry was sugarcane. That was bad because there was a lot of people going for it.
What best describes the economic situation in Bangladesh?
: Main article: Economy of Bangladesh Near the town of Cox's Bazaar in southern Bangladesh. Many industries in Bangladesh are still primitive by modern standards.Despite continuous domestic and international efforts to improve economic and demographic prospects, Bangladesh remains a developing nation.[44] Its per capita income in 2006 was US$2300 (adjusted by purchasing power parity) compared to the world average of $10,200.[2] Jute was once the economic engine of the country. Its share of the world export market peaked in the Second World War and the late 1940s at 80%[45] and even in the early 1970s accounted for 70% of its export earnings. However, polypropylene products began to substitute for jute products worldwide and the jute industry started to decline. Bangladesh grows very significant quantities of rice(chal), tea (Cha) and mustard. Although two-thirds of Bangladeshis are farmers, more than three quarters of Bangladesh's export earnings come from the garment industry,[46] which began attracting foreign investors in the 1980s due to cheap labour and low conversion cost. In 2002, the industry exported US$5 billion worth of products.[47] The industry now employs more than 3 million workers, 90% of whom are women.[48] A large part of foreign currency earnings also comes from the remittances sent by expatriates living in other countries. Worker in a paddy field - a common scene throughout Bangladesh. Two thirds of the population works in the agricultural sector.Obstacles to growth include frequent cyclones and floods, inefficient state-owned enterprises, mismanaged port facilities, a growth in the labour force that has outpaced jobs, inefficient use of energy resources (such as natural gas), insufficient power supplies, slow implementation of economic reforms, political infighting and corruption. According to the World Bank, "among Bangladesh's most significant obstacles to growth are poor governance and weak public institutions."[5] Bashundhara City, the largest shopping mall in South Asia.Despite these hurdles, the country has achieved an average annual growth rate of 5% since 1990, according to the World Bank. Bangladesh has seen expansion of its middle class, and its consumer industry has also grown. In December 2005, four years after its report on the emerging "BRIC" economies (Brazil, Russia, India, and China), Goldman Sachs named Bangladesh one of the "Next Eleven,"[49] along with Egypt, Indonesia, Pakistan and seven other countries. Bangladesh has seen a dramatic increase in foreign direct investment. A number of multinational corporations and local big business houses such as Beximco, Square, Akij Group, Ispahani, Navana Group, Habib Group, KDS Group and multinationals such as Unocal Corporation and Chevron, have made major investments, with the natural gas sector being a priority. In December 2005, the Central Bank of Bangladesh projected GDP growth around 6.5%.[50] One significant contributor to the development of the economy has been the widespread propagation of microcredit by Muhammad Yunus (awarded the Nobel peace prize in 2006) through the Grameen Bank. By the late 1990s, Grameen Bank had 2.3 million members, along with 2.5 million members of other similar organisations.[51] In order to enhance economic growth, the government set up several export processing zones to attract foreign investment. These are managed by the Bangladesh Export Processing Zone Authority.
What are the main income sources in Bangladesh?
Bangladesh receives income from exports that are vital to keep its economy going. The country relies on exports of clothing, farm produce and fishery income from abroad. Bangladesh is often characterized as being relatively poor, however, it may still have chances to marginally increase its GDP.
Which country is the main competitor of indian jute industry?
Bangladesh is the main competitor of the Indian jute industry.
Who is the main competitor for Indian jute industry?
Bangladesh
What are the cash crops of Bangladesh?
The main crops grown are rice, corn, wheat, jute and tea. Hope this helped. =p
What are the main occupations in Bangladesh?
The main industry of Bangladesh is RMG (Ready Made Garments). Bangladesh exports garments all around the globe (to countries like USA, Canada, UK, India etc). The RMG sector contributes almost 65-75% to the country's GDP (not sure about the exact data).
What are two main industries in India?
Iron & Steel industry Cotton & Textile industry
Which country is called the land of golden fiber?
Bangladesh is called the land of golden fiber due to its agricultural focus on jute crops. It is their main cash crop. About 75% of the total exports out of Bangladesh consist of this course golden fiber. Jute needs a somewhat swampy area to grow and flourish, and does very well in the low lying areas of Bangladesh.
Which land is called land of golden fiber?
Bangladesh is called the land of golden fiber due to its agricultural focus on jute crops. It is their main cash crop. About 75% of the total exports out of Bangladesh consist of this course golden fiber. Jute needs a somewhat swampy area to grow and flourish, and does very well in the low lying areas of Bangladesh.
What was the main reason. that England lost its monopoly on the textile industry?
English mechanics sold plans for textile mills to other countries.
Why was the textile industry the first industry to be affected by the Industrial Revolution?
Becase that was the main indstry before the factory system
What is the origin of jute?
Jute is a natural fiber that originates from the jute plant, primarily cultivated in the tropical regions of South Asia. The main producers of jute are Bangladesh and India, where the plant thrives in the warm, humid climate. Historically, jute has been used for centuries, with evidence of its use dating back to ancient civilizations in the Indian subcontinent. The fiber is known for its strength, durability, and biodegradability, making it a popular choice for textiles and packaging.
What was the main reason the England lost its on the textile industry?
The main reason that England lost its hold on the textile industry was the discovery that cotton could be grown in the United States by using slave labor. The United States, then began exporting its cotton to other countries.
Why is Ludhiana called Manchester of India?
Because Ahmadabad is the main centre of textile industry in India.
