Bangladesh has retained the second top position in the world as a single country in the export of ready-made garments. Vietnam ranks third in exports of manufactured garments, $7 billion less than Bangladesh. And as always, China is at the top. At present, their market share is 31.64 percent. The World Trade Organization’s (WTO) ‘World Trade Statistics 2023: Key Insights and Trends’ report has revealed such information. The organization published it on its website on Thursday (August 1).
According to the report, China’s market share is currently 31.64 percent. Earlier last month, the Export Development Bureau found a discrepancy in the commodity export data. However, the figure given by the WTO for the country’s garment exports in 2023 is $9 billion less than the EPB.
According to the report of the organization, it is also said that last year, Bangladesh exported clothes worth 3 thousand 8 billion dollars. Accordingly, the share of Bangladesh in the world market was 7.38 percent.
The fourth and fifth largest exporters of ready-made garments in the world are Türkiye and India respectively. In 2023, Turkey exported 19 billion or 1 thousand 9 billion dollars and India 15 billion or 1.5 trillion dollars of ready-made garments. In addition, Indonesia and Cambodia exported 8 billion or 8 billion dollars worth of garments last year. On the other hand, the amount of exports of clothing made by the United States and Hong Kong is 7 billion or 7 billion dollars.
