Vietnam and Bangladesh jointly gained the position of second largest apparel exporter in the world in terms of export value as Bangladesh lost its global market share in apparel exports by 0.1 percentage point to 6.4%.
According to the World Trade Statistical Review 2019 recently released by the World Trade Organization (WTO), Bangladesh grabbed $32 billion in 2018, which was $29 in 2017.
On the other hand, Vietnam grabbed also $32 billion in 2018, which was $27 billion in the previous year where total global apparel export market is $421 billion.
At the same time, Bangladesh’s apparel market share in the global clothing market eroded away slightly by 0.1 percentage point to 6.4% in 2018, which was 6.5% in 2017.
Bangladesh’s closest competitor in the global market, Vietnam, narrowed the gap with its competitor and it stood at 6.2% in 2018, up by 0.3 percentage points, which was 5.9% in 2017.
China still remains as the top exporter of apparel products with $158 billion, its market share slid to 31.3% in 2018 from 34.9% in the previous year.
India’s market share came down to 3.3% from 4.1%, while Turkey’s share fall to 3.1%, which was 3.3% a year ago.