Local value addition by RMG stands 74.84pc in H1

Local value addition by the country’s Ready-Made Garments (RMG) industry stood at 74.84 per cent during the first half of the current fiscal year.

Bangladesh Bank estimated the local value addition on the basis of import prices of raw materials by the industry.

During the period, raw materials imported through back-to-back letter of credit (L/C) stood at US$ 3.71 billion in July-December period of 2017.

At the same time, total value of RMG export stood at $14.77 billion.

So, the value of raw materials stood at 25.16 per cent of the total RMG export value.

“Thus, the gross value addition from this sector stood at 74.84 per cent,” said the central bank’s latest quarterly review of RMG.

The yearly data on RMG export and back-to-back raw materials import also showed that the average value addition from FY10 to the first half of FY18 through export of RMG is almost 75.0 per cent.