Bangladesh is again the second in garment export in the world
Bangladesh has once again secured the second position in the global readymade garment export market in 2021. In 2020, Vietnam came second, pushing Bangladesh to third place.
Vietnam’s share of global manufactured garment (RMG) exports fell from 6.40 percent in 2020 to 5.80 percent in 2021, according to the World Trade Organization’s (WTO) World Trade Statistics Review-2022 released on Wednesday. Bangladesh’s share of the global RMG market, however, increased from 6.30 percent in 2020 to 6.40 percent last year. This ratio was 6.80 percent in 2019 and 6.40 percent in 2018.
A review of WTO statistics also showed that RMG exports from Bangladesh rose strongly last year and recorded an annual growth of 24 percent. These exports suffered a major setback in 2020 with a 17 percent decline in Bangladesh as against a 7 percent increase in Vietnam’s RMG exports.
Bangladesh’s share of the global apparel export market was 4.20 percent in 2010, while Vietnam’s share was 2.90 percent. China retained the top position in the global apparel export market in 2020, increasing the country’s share from 31.60 percent to 32.80 percent last year.
The European Union is the second largest world exporter of RMG, according to WTO publications. So technically Bangladesh is the third largest global RMG exporter and Vietnam is the fourth.
If the EU’s combined export figures are disaggregated by country, Bangladesh and Vietnam would be the second and third top exporters. Turkey and India are in fifth and sixth positions. It is followed by Malaysia, Indonesia, Hong Kong and Pakistan.
WTO figures also show that the annual total export value of the top 10 apparel exporters stood at $460 billion, a big jump from $378 billion in 2020. This value was recorded at 411 billion USD in 2019. Sutra-Basas