Bangladesh's Share Increases in Garment Export

There has been intense competition in the global garment trade between Bangladesh and Vietnam for quite some time now. The race is on for the second-largest garment-exporting country title, right after China, the current leader in this sector. Last year, Bangladesh secured the second position in garment exports. In 2021, Bangladesh held the second position in global garment exports. The share of global exports was 6.40%. In 2022, that share has risen to 7.90%.

Bangladesh continues bolstering its RMG exports

In the 'World Trade Statistical Review 2023' report released by the World Trade Organization (WTO) last Monday (July 31), this data was highlighted.

As indicated by this report, China continues to maintain its position as the leading country in garment exports. In the global market, China had a 31.07% share in garment exports in 2022.

The 'World Trade Statistical Review 2023' indicates that in 2022, Vietnam became the third-largest garment-exporting country. In last 2022, Bangladesh exported garments worth $45 billion.

According to WTO data, in 2022, China exported garments worth $182 billion, and Vietnam exported garments worth $35 billion.

Analyzing the WTO report, it is evident that Bangladesh's share in the global garment market has increased slightly compared to last year. In 2022, Bangladesh held a 7.90% share in global garment exports. In 2021, this share was 6.40%. Before that, the share was 6.30% in 2020, and 8.80% in 2019.

Similar to China, Bangladesh's garment exports have increased considerably in the global market. In the global garment exports, their share has reached 6.10% in 2022, up from 5.80% in 2021.

Although Bangladesh ranks second as an individual country, collectively within the European Union, it holds the second position in the global garment market, preceded by China. Within this framework, Bangladesh ranks as the third most significant exporter of garments, with Vietnam closely trailing in the fourth spot. However, the specific amounts exported by individual EU countries are not mentioned in the WTO report.

Turkey shipped clothing worth $20 billion last year, India $18 billion, Indonesia $10 billion, and Cambodia and Pakistan $9 billion apiece.

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