Bangladesh apparel export in the last fiscal year rose to $28 billion from $26.15 billion in the previous fiscal despite a global slump in consumption of apparel products, World Trade Organisation (WTO) data said.The global consumption of apparel products has slipped by 7.92 per cent in 2015 to $445 billion since 2008 economic recession while Bangladesh’s global market share in clothing products rose to 5.9 per cent to $26.15 billion in 2015, which was 5.1 percent in the previous year (2013-14).According to WTO the consumption fell in developed countries following economic slowdown. The global consumption of RMG (readymade garment) products came down to $445 billion in 2015-16, which was $483.28 billion in previous year.Following economic recessions in 2008, the global consumption of clothing products declined by 13.23 per cent to $315.51 billion in 2009, from $363.62 billion a year ago.The slower consumption of apparel products comes as a challenge to leading RMG exporting countries as they have already seen negative growth except Bangladesh.China, the number one exporter accounting for 39.26 per cent global market share, has seen a 6.37 per cent decline in its exports to world market in 2015 followed by Turkey and Indonesia.
