Despite facing challenges in the global markets and dealing with rising production costs, Bangladesh's clothing export market share has experienced remarkable growth, more than tripling in the last 17 years.
In 2022, the country exported $45 billion worth of clothing, capturing a significant 7.9% share of the global market, a substantial increase from the modest 2.5% share it held back in 2005. This impressive growth has been attributed to Bangladesh's strategic focus on value-added products and the diversification of orders, especially from China.
Exporters believe that with continued support from the government, including uninterrupted energy supply and favorable tax and duty policies, exports could surge even further.
The World Trade Organization's report recognized Bangladesh's progress, noting that it climbed up the ranks among the 50 largest merchandise traders, reaching 49th place in 2022, a considerable improvement from its previous position of 53rd in 2019.
Meanwhile, China maintained its position as the largest merchandise trader in 2022. These developments demonstrate Bangladesh's growing significance in the global clothing export market and underscore the potential for further expansion with the right support and strategic initiatives.
