The share held by Bangladesh in the global apparel export market was 6.36 per cent in 2016. According to the latest statistics provided by the World Trade Organisation (WTO), this figure rose to 6.46 per cent in 2017. As stated by the World Trade Statistical Review 2018, annual exports of Bangladeshi apparel products rose by 2 per cent, to $29.33 bn in 2017 from $28.22 bn in 2016. Bangladesh retained its rank as the third largest global exporter of clothing, followed by China and the European Union (EU), according to reports.
Last year, Bangladesh retained its rank as the fifth largest importer of textile across the world, importing textile products worth $ 9.41 bn. Import registered a growth of 7 per cent last year and the country’s share in global import of textile stood at 2.76 per cent.
Vietnam witnessed growth by 8 per cent in clothing exports last year, overseeing a rise from 5.54 per cent in 2016 to 5.90 per cent of global share. The country ranks 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 a growth of 8 per cent.
Turkey, the fifth largest exporter of clothing, along with 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. According to the WTO review report, clothing and textile contributed approximately 4 per cent to global merchandise exports in 2017.