Written by The Banking Post
Bangladesh held its position as the world’s second-largest apparel exporter in 2024, trailing only China, according to the latest data released by the World Trade Organization (WTO).
Garment exports from Bangladesh totaled $38.48 billion last year, reflecting a modest year-on-year growth of 0.21%. The country captured 6.90% of the global apparel market, which was valued at $557.50 billion in 2024. However, this figure marks a decline from its 7.38% market share in 2023.
China remained the dominant player, exporting $165.24 billion worth of garments and claiming a 29.64% share of the global market. While its export value grew by 0.30%, China’s market share also saw a decline from 31.64% in the previous year.
Vietnam secured third place with $33.94 billion in apparel exports in 2024—a significant 9.34% increase from the year before. This pushed its market share up to 6.09% from 5.96% in 2023, underscoring its upward trajectory in global rankings.
Turkey, India, Cambodia, and Pakistan rounded out the top seven apparel exporters, while Indonesia and the United States placed eighth and ninth, respectively.
Despite marginal gains in export value, the shrinking market share for both Bangladesh and China signals rising competition and shifting dynamics in the global textile trade, particularly from emerging players like Vietnam.
