DHAKA, Dec. 1 (Xinhua) -- Bangladesh bagged the second position again in the global apparel export market in 2021 after it was pushed back to the third position by Vietnam in 2020.
The World Trade Statistical Review 2022, released by the World Trade Organization (WTO), showed that Vietnam's share in global ready-made garment (RMG) exports dropped to 5.8 percent in 2021 from 6.4 percent in 2020, Bangladesh's official news agency BSS reported on Thursday.
The share of Bangladesh in the global RMG market, however, increased to 6.4 percent last year from 6.3 percent in 2020. The ratio was 6.8 percent in 2019 and 6.4 percent in 2018.
WTO statistical review also showed that RMG exports from Bangladesh rebounded strongly last year, recording a 24-percent annual growth.
In 2020, the exports faced a big setback and declined by 17 percent against a 7-percent growth of Vietnam's RMG exports.
The share of Bangladesh in the global clothing export market was 4.2 percent in 2010, when the share of Vietnam was 2.9 percent.
China retained the top position by increasing its share to 32.8 percent of the global clothing export market last year from 31.6 percent in 2020.
The European Union, according to the WTO, is the second largest global exporter of RMG. So, technically, Bangladesh is the third largest global RMG exporter, and Vietnam is the fourth largest.
Turkey and India remained in the fifth and sixth positions.
WTO statistics also showed that the annual export value of the top 10 exporters of clothing stood at 460 billion U.S. dollars, a big jump from 378 billion dollars in 2020. The value was recorded at 411 billion dollars in 2019.