Bangladesh’s Share In Apparel Export Market Reaches 6.46%
The share of Bangladesh in the global apparel export market was 6.46 per cent in 2017, according to the latest statistics by the World Trade Organisation (WTO). The figure was 6.36 per cent in 2016. Annual exports of Bangladeshi apparel products rose by 2 per cent to $ 29.33 billion in 2017 from $28.22 billion in 2016, says the World Trade Statistical Review 2018.
Bangladesh retained its rank as the third largest global exporter of clothing, followed by China and the European Union (EU), according to Bangladesh media reports.
Last year, Bangladesh also retained rank as the fifth largest importer of textile across the world, importing textile products worth $ 9.41 billion. Import registered around 7 per cent growth last year and the country’s share in global import of textile stood at 2.76 per cent.
Vietnam witnessed around 8 per cent growth in clothing export last year with a 5.90 per cent global share over 5.54 per cent in 2016. The country ranked fourth in the world, followed by India whose share stood at 4.10 per cent with an annual export growth of 2 per cent last year. Indonesia registered a 10 per cent growth year while Cambodia registered 8 per cent.
Turkey, the fifth largest exporter of clothing, and China registered almost zero growth in their annual exports last year. China also lost its global share which declined to 34.90 per cent in 2017 from 36.40 per cent in 2016.
Clothing and textile contributed 4 per cent to global merchandise export in 2017, said the WTO review report