World Trade Statistical Review 2019 released by the World Trade Organisation reveals that Vietnam and Bangladesh have jointly become the second largest apparel exporters in the world in terms of export value. Bangladesh exported apparels worth $32 billion in 2018, increasing from $29 in 2017. On the other hand, Vietnam exported $32 billion apparels in 2018, increasing from $27 billion in the previous year where total global apparel export market is $421 billion.

Bangladesh’s market share in the global clothing market eroded 0.1 percentage points to 6.4 per cent in 2018 from 6.5 per cent in 2017. Bangladesh’s closest competitor in the global market, Vietnam, narrowed the gap with its competitor with its exports increasing by 0.3 per cent to 6.2 per cent in 2018.

China still remains as the top exporter of apparel products with $158 billion, its market share slid to 31.3 per cent in 2018 from 34.9 per cent in the previous year. India’s market share declined to 3.3 per cent from 4.1 per cent, while Turkey’s share declined to 3.1 per cent from 3.3 per cent a year ago.