Bangladesh has retained its position as the world's second-largest exporter of ready-made garments (RMG) for the fifth consecutive year, according to the World Trade Organization's (WTO) latest World Trade Statistical Review 2025.
Introduction to Bangladesh's Apparel Export Success
Bangladesh has once again solidified its position as a major player in the global apparel export market. According to the World Trade Organization's (WTO) latest World Trade Statistical Review 2025, Bangladesh has retained its position as the world's second-largest exporter of ready-made garments (RMG) for the fifth consecutive year. This achievement is a testament to the country's thriving garment industry, which has been a key driver of Bangladesh's economic growth.
Background of the Garment Industry in Bangladesh
The garment industry in Bangladesh has a long history, dating back to the 1980s. Over the years, the industry has experienced significant growth, with exports increasing from just $31.6 million in 1984 to over $38 billion in 2022. The industry's growth can be attributed to a combination of factors, including low labor costs, favorable government policies, and investments in infrastructure. Today, the RMG sector is the largest export earner for Bangladesh, accounting for over 80% of the country's total export earnings.
Key Details of the WTO Report
According to the WTO report, Bangladesh's apparel exports reached $38.7 billion in 2024, accounting for 6.4% of the global market share. China remains the world's largest exporter of RMG, with a market share of 30.8%. However, Bangladesh's retention of the second position is a significant achievement, given the intense competition in the global garment industry. The report also highlights the growth of other emerging economies, such as Vietnam and Indonesia, which are increasingly becoming major players in the global apparel export market.
Impact on the Bangladesh Economy
The garment industry has a significant impact on the Bangladesh economy, providing employment opportunities to millions of workers, mostly women. The industry's growth has also contributed to the country's economic development, with RMG exports accounting for a significant portion of the country's foreign exchange earnings. The industry's success has also attracted foreign investment, with many international brands setting up manufacturing facilities in Bangladesh. However, the industry also faces challenges, including ensuring workers' rights and safety, and addressing environmental concerns.
Conclusion and Future Prospects
In conclusion, Bangladesh's retention of the second position in apparel exports is a significant achievement, reflecting the country's strengths in the garment industry. To maintain its competitive edge, the industry must continue to invest in infrastructure, technology, and worker training. The government must also ensure that the industry operates in a sustainable and responsible manner, with a focus on workers' rights and environmental protection. With the right policies and investments, Bangladesh's RMG sector is likely to continue its growth trajectory, contributing to the country's economic development and prosperity.
Source: Business Mirror BD
