Bangladesh’s share in the global clothing export market increased significantly to 7.90 per cent in the last year from 6.40 per cent in 2021, according to the latest statistics released by World Trade Organization (WTO).
The country’s share in the global ready-made garments (RMG) market was 6.30 per cent in 2020, 6.80 per cent in 2019 and 6.40 per cent in 2018.
The country also retained the second position in clothing export, preceded by China and followed by Vietnam in the global market in 2022.
The statistics showed that the total export of RMG from Bangladesh reached US$44.35 billion in 2022, registering around 27 per cent annual growth.
World Trade Statistical Review 2023, released by the WTO on Monday, also showed that Vietnam’s share in global RMG exports also increased to 6.10 per cent in 2022 from 5.80 per cent in 2021. Annual RMG exports from Vietnam stood at US$35.30 billion in the last year.
China remained in the first position though its share of the global clothing export market declined to 31.70 per cent in the last year from 32.80 per cent in 2021.
The European Union (EU), according to the WTO publication, is the second largest global exporter of RMG. So, technically, Bangladesh is the third largest global RMG exporter, and Vietnam is the fourth largest. If the EU’s combined export figures were disaggregated country-wise, Bangladesh and Vietnam would be the second and third top exporters of clothing in the world market. The EU’s country-wise figure is not available in the WTO publication, however.
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