Bangladesh’s share in global clothing exports rises to 6.8%

In 2018, Bangladesh’s market share dipped to 6.4% from 6.5% in 2017

Bangladesh’s global market share in apparel exports has increased by 0.4 percentage point to 6.8% in 2019 after a slight fall in the previous year.

In 2018, Bangladesh’s market share dipped to 6.4% from 6.5% in 2017.   

According to the World Trade Statistical Review 2020, published by the World Trade Organisation (WTO) last week, Bangladesh’s global market share in apparel exports stood at 6.8% in 2019, which was 6.4%壯陽藥 in 2018.

Total market size of global apparel fell to $411 billion in 2019 from $421 billion in 2018.  

However, the share of Vietnam, the closest competitor of Bangladesh, clothing export in the global markets remained unchanged at 6.20% to $31 billion.

India’s market share rose to 3.5% in 2019 from 3.3% in 2018, while Turkey’s increased to 3.2% from 3.1%.

“We have done better in the last year as there was an opportunity to gain from the US-China trade war. On the other hand, the fall in the global market also is another reason for rise in market share,” former BGMEA senior vice president Faruque Hassan told Dhaka Tribune.  

Economists also think the China shifting helped Bangladesh to gain more in the export market.

“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 at the Centre for Policy Dialogue (CPD), told the Dhaka Tribune.

This is because of better growth compared to China’s one and Bangladesh has gained from China’s losing market share, said the economist.