BD’s share in global clothing export market increases further

FE ONLINE REPORT | Tuesday, 4 August 2020

The share of Bangladesh in the global clothing export market increased to 6.80 per cent in the last year from 6.40 per cent in 2018, according to the latest statistics of the World Trade Organization (WTO).

At the same time, the share of Vietnam’s clothing export remained unchanged at 6.20 per cent, although the country registered 8.0 per cent annual growth in export, compared to around 2.0 per cent growth of clothing export from Bangladesh.

The share of Bangladesh in the global clothing export market was 4.20 per cent in 2010 when the share of Vietnam was 2.90 per cent.

The World Trade Statistical Review 2020, released by the WTO in the last week in Geneva, unveiled the figures. It also showed that the annual export of clothing or ready-made garments from Bangladesh stood at around $34 billion in the last year.

China remained the top clothing exporter in the world although its share declined to 30.80 per cent in the last year from 31.30 per cent in 2018.

Bangladesh remained the third largest exporter of clothing after China and European Union (EU), according to the WTO publication, while Vietnam ranked fourth.

India and Turkey ranked fifth and sixth largest exporters of clothing globally and both of them advanced marginally in the global share of the export.

If EU’s combined export figure was disaggregated country-wise, Bangladesh would be the second largest exporter of ready-made garments globally.

WTO statistics also showed that the annual value of top 10 exporters of clothing stood at $411.0 billion in 2019, a slight decline from $421 billion in 2018.

The flagship publication of the WTO looks into the latest developments in world trade and provides a detailed analysis of the most recent trends for trade in goods and services.