Bangladesh has retained its position as the world’s second-largest exporter of ready-made garments (RMG) for the fifth consecutive year, according to the World Trade Organization’s (WTO) latest World Trade Statistical Review 2025.

The achievement comes despite a challenging year for the country’s industrial sector, which faced gas and electricity shortages, labour unrest, banking sector complications and uncertainty over potential reciprocal tariffs from the United States.

According to the WTO report, Bangladesh exported $38.82 billion worth of ready-made garments in 2024, exceeding Vietnam’s exports by nearly $2 billion. The performance enabled Bangladesh to maintain its second-place ranking in the global apparel export market.

Former Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Director Mohiuddin Rubel said China’s overwhelming dominance in the global market has made it difficult for other exporting countries to narrow the gap. He noted that while China’s apparel exports stand at around $155-157 billion, Bangladesh’s exports total nearly $38 billion, highlighting the significant difference between the top two exporters.

However, analysts cautioned that Bangladesh’s lead over Vietnam could come under pressure. Bangladesh recorded apparel export growth of around 1% year-on-year in 2024, while Vietnam posted growth of approximately 11%, indicating stronger momentum.

Economist Mahfuz Kabir said Vietnam is advancing rapidly, while India, Pakistan and Sri Lanka are also strengthening their positions in the global apparel market. Cambodia is gradually emerging as another competitive player. He stressed that Bangladesh must accelerate automation and adopt more technology-driven production to sustain its global ranking.

Rubel also noted that both Bangladesh and Vietnam continue to rely heavily on China for raw materials and supply chains. He said the key competitive differences lie in labour costs and production efficiency.

According to the WTO, China remains the world’s largest apparel exporter, followed by Bangladesh, Vietnam, India and Turkey, respectively.