Bangladesh bagged the second position again in the global apparel export market in 2021 after it was pushed back to the third position by Vietnam in 2020.
World Trade Statistical Review 2022, released by the World Trade Organization on Wednesday, showed that Bangladesh regained the second position again in the global apparel export market in 2021 it lost Vietnam in 2020.
The review further revealed that Vietnam’s share in global ready-made garment exports has declined to 5.80 percent in 2021 against 6.40 percent in 2020. Bangladesh was able to enhance its RMG share in the global RMG market, to 6.40 percent in the last year. Its share in 2020 was 6.30 percent. Bangladesh however has still not regained its peak share of 6.80 percent achieved in 2019.
WTO statistical review also showed that RMG exports from Bangladesh rebounded strongly in the last year, recording 24 percent annual growth. In 2020, the exports faced a big setback due to covid-19 and declined by 17 percent while that of Vietnam increased by 7 percent.
Vietnam has made great strides in the global RMG market as its RMG export share in the global market in 2010 was 2.9 percent against Bangladesh’s 4.9 percent. China retained that first position by increasing its share to 32.80 percent of the global clothing export market which in 2020 was 31.60 percent.
