Home Apparel B’desh share in global clothing market up

B’desh share in global clothing market up

The share of Bangladeshi apparel in the world export market increased to 5.9 per cent last year from 5.1 per cent in 2014. Vietnam is, however, chasing Bangladesh in the global market and looking to a greater share of the pie. BD’s share in global clothing market up The East Asian country’s clothing export registered 10 per cent growth last year while Bangladesh registered a moderate 6.0 per cent growth. Vietnam is the only country among the top 10 global exporters of clothing that registered double digit growth last year.  It’s share in the global clothing market stood at 4.9 per cent in 2015 from 4.0 per cent in 2014. The “World Trade Statistical Review 2016”, released by the World Trade Organisation (WTO) on Thursday, revealed this information. The review provides a detailed analysis of the latest developments in world trade. It replaced the International Trade Statistics, the former annual statistical publication of the WTO. According to the statistical review, Bangladesh retained the third largest clothing exporter position after China and European Union (EU) last year. The EU, an economic union of 28 European countries, occupied 25.2 per cent global share of clothing export. The WTO ranked the EU as the second largest clothing exporter but did not provide separate data on each of the EU member countries’ clothing export. Thus, Bangladesh may be considered the second largest exporter after China which grabbed 39.3 per cent of the global market. “Though such ranking bears some country  brand value, in reality it matters little,” said Fazlul Haque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). “More important is whether we are performing according to our potentials or not.” Mr Haque was of the view that competitors in Vietnam, India and Cambodia were moving more seriously than Bangladesh. “We have to face the challenges of intense competition and for this we need a comprehensive plan,” he explained. “Infrastructure is still the major barriers to tapping the full potential and it needs attention.” The former president of the BKMEA ruled out any long-term negative impact of recent terror attack in Gulshan.”As an initial shock, buyers will avoid visiting the country and we have to travel more,” he said. “But it is a global problem and buyers are aware of that. They can’t single out Bangladesh.”    WTO statistics also showed that India registered 2.0 per cent growth in RMG export last year and moderately increased its global market share to 4.10 per cent from 3.70 per cent in 2014. The country emerged the fifth largest exporter of clothing followed by Turkey. Turkey faced a negative 8.0 per cent growth in RMG export last year and its share slipped to 3.4 per cent from 3.5 per cent in 2014. Indonesia, Cambodia and the United States are the next three countries in the ranking.