According to the latest statistics of the World Trade Organization (WTO), Bangladesh’s global clothing export market share has increased to 6.80 percent in the last year which was 6.40 percent in 2018.
At the same time, Vietnam’s clothing export share has remained unchanged at 6.20 percent, however, the country has registered an annual growth of 8.0 percent in exports, compared to about 2.0 percent growth in garment exports from Bangladesh.
Last week WTO unveiled the figures releasing the World Trade Statistical Review 2020 in Geneva. It also showed that the annual export of clothing or readymade garments from Bangladesh was around $34 billion last year.
According to the data, China remained the top clothing exporter in the world with 30.80 percent share, although it declined from 31.30 percent in 2018
As per the WTO publication, Bangladesh remained the third-largest exporter of clothing after China and the European Union (EU), while Vietnam, India, and Turkey ranked fourth, fifth and sixth respectively.
Bangladesh will be the second-largest exporter of readymade garments in the world if the combined export figures of the European Union differ by country.
“In 2019, there was an opportunity for Bangladeshi apparel makers as the US-China trade war forced global buyers to relocate the business and diversify sourcing destinations,” Ahsan H Mansur, executive director of Policy Research Institute told Textile Today.
“Bangladesh’s apparel market share in the global market is close to 7% and it continues to grow. It is a positive sign for the export-led economy and reducing the gap with China, the largest exporters of clothing goods,” Khondaker Golam Moazzem, research director of Centre for Policy Dialogue (CPD) said.
WTO figures also showed that the annual value of the top 10 garment exporters stood at $411.0 billion in 2019, down slightly from $421 billion in 2018.
The WTO flagship publication traces the latest developments in world trade and provides a detailed analysis of the latest trends in trade in goods and services.