Trade
10 months ago

Bangladesh shares 7.90pc of global RMG exports

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Bangladesh's share in the global clothing-export market increased significantly to 7.90 per cent last year from 6.40 per cent in 2021, according to latest statistics released by the World Trade Organisation (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 statistics show that total export of RMG from Bangladesh reached US$44.35 billion in 2022 in an around 27-percent annual growth. The country posted the highest growth in RMG export among the top 10 exporters in the past year.

World Trade Statistical Review 2023, released by the WTO on Monday, also showed that the country retained the second position in the clothing export, preceded by China and followed by Vietnam, in 2022.

Vietnam's share in the global garment-trade cake 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 still reigns as the number one although its share in the clothing-export market declined to 31.70 per cent in the past year from 32.80 per cent in the 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 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," says the WTO account.

The EU's country-wise figure is not available in the WTO publication, however.

Meanwhile, Turkey and India remained in the fifth and sixth positions followed by Indonesia, Cambodia, Pakistan and the United States of America (USA).

The world trade report also shows the annual export value of top 10 clothing exporters stood at $492 billion in the last year which was $460 billion in 2021. The value was recorded at $378 billion in 2020.

Bangladesh is also the fourth-largest importer of textiles on the global market, according to the WTO statistical review report.

The country imported textiles worth around $14.80 billion in the last year which was also the 3.90 per cent of the global share.

The European Union is the top importer of textiles followed by the USA and Vietnam.

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