Bangladesh has firmly retained its status as the second‑largest exporter of ready‑made garments (RMG) worldwide in 2024, trailing only China. According to World Trade Organization data:
- Bangladesh shipped RMG worth US $38.48 billion, slightly up by 0.21% from 2023 The Daily Star+8Asia News Network+8New Age+8.
- This represents 6.90% of the US $557.5 billion global apparel market in 2024, down from 7.38% in 2023 The Daily Star+4Asia News Network+4The Daily Star+4.
- China remains dominant with US $165.24 billion in exports (29.64% market share), marginally ahead in value and volume The Daily Star+5Industry Insider+5The Business Standard+5.
- Vietnam follows Bangladesh closely in the third position, exporting US $33.94 billion, growing 9.34% year‑on‑year dhakatribune.com+10Asia News Network+10New Age+10.
Why Bangladesh Maintains Its Strong Position
According to the Bangladesh Investment Development Authority:
- The textile & apparel industry is globally recognized as the second-largest RMG exporting country, supported by 230+ LEED‑certified green factories, government policies promoting sustainable production, and export access to 52 duty‑free markets The Business Standard+4bida.gov.bd+4The Financial Express+4.
- Its backward-linked ecosystem, covering local yarn, fabric, and accessory production, strengthens supply resilience and reduces import dependency bida.gov.bd.
Strengths & Challenges
✅ Strengths:
- Scale & specialization: Bangladesh’s RMG sector surpasses India’s output and is tailored toward Western fast fashion markets en.wikipedia.org+2en.wikipedia.org+2reddit.com+2.
- Sustainability leadership: Recognized internationally for green manufacturing practices with numerous certified factories bida.gov.bden.wikipedia.org.
⚠️ Challenges:
- Modest growth: Bangladesh grew by only 0.21% in exports in 2024, trailing behind Vietnam’s rapid 9.34% growth The Financial Express+3Industry Insider+3The Business Standard+3.
- Declining share: Its global market share slipped from 7.38% in 2023 to 6.90% in 2024 New Age+5Asia News Network+5Prothomalo+5.
- Risks from policy & geopolitics: Potential tariff changes, labor unrest, and production disruptions pose threats to future competitiveness Prothomalo+1The Daily Star+1.
✍️ At a Glance: 2024 Apparel Export Rankings
| Rank | Country | 2024 Exports (US $B) | Global Market Share (%) |
|---|---|---|---|
| 1 | China | 165.24 | 29.64 |
| 2 | Bangladesh | 38.48 (↑0.21%) | 6.90 (↓0.48 pts) |
| 3 | Vietnam | 33.94 (↑9.34%) | 6.09 |
🌟 Why This Ranking Matters
- It reinforces Bangladesh’s leading-edge position in global fashion manufacturing.
- It highlights the urgent need to invest in innovation, diversify markets, and address rising competition—especially from Vietnam bida.gov.bd+9website+9The Business Standard+9Industry Insider+1Prothomalo+1.
- It draws attention to the importance of sustainability, labor rights, and infrastructure resilience for future stability and growth.
In short: Bangladesh remains a top-tier apparel exporter, second only to China, with strong green credentials and established global supply ties. But to hold onto that spot, continued adaptation to shifting trade landscapes and rising competitors—especially Vietnam—is essential.
