Bangladesh Retains Second Spot in Global Garment Exports for Fifth Straight Year

Dhaka: Bangladesh has retained its position as the world's second-largest apparel exporter for the fifth consecutive year, despite facing a series of challenges, including gas and power shortages, labour unrest, banking sector constraints and uncertainty over the United States' reciprocal tariff measures.

The latest World Trade Statistical Review 2025, published by the World Trade Organization (WTO), shows that Bangladesh exported US$38.82 billion worth of ready-made garments (RMG) in 2024. The country remained comfortably ahead of Vietnam, with an export lead of nearly US$2 billion.

Although global apparel exports declined over the year, Bangladesh managed to post modest growth of around 1 percent. In contrast, Vietnam recorded a much stronger export growth of nearly 11 percent, highlighting intensifying competition in the global market.

Former BGMEA Director Mohiuddin Rubel said China's share in the global apparel market remains overwhelmingly large, making it difficult for other exporting countries to close the gap. He noted that Bangladesh has maintained its second position largely because no other competitor has been able to expand at China's scale. However, the gap between China and Bangladesh remains substantial.

Rubel also pointed out that a significant portion of the export orders now being secured by Bangladesh and Vietnam has shifted from China, where rising production costs and changing global sourcing strategies have encouraged buyers to diversify their supply chains.

Economist Mahfuz Kabir warned that Bangladesh cannot afford to be complacent, as Vietnam is advancing rapidly while India, Pakistan, Sri Lanka and Cambodia are also strengthening their positions in the global apparel market. He stressed that greater automation, technological upgrading and productivity improvements will be essential for Bangladesh to retain its competitive edge.

According to the WTO report, China remained the world's largest apparel exporter in 2024 despite a decline in exports. Bangladesh ranked second, followed by Vietnam, India and Türkiye, respectively.