The share of Bangladesh’s global clothing market again rose in 2016 because the country holds its place as the second largest exporter of apparel products. The review from World Trade Statistical Review 2017, by World Trade Organization which released on July 28 says the clothing market has emerged up to 6.4% in 2016, which is greater by 0.50% than the previous year.
The rapid growth of share indicates vast opportunities in spearhead RMG export in near future. According to a report published in Dhaka Tribune, Mahmud Hasan Khan Babu, BGMEA Vice President told that the growth of share indicates a positive sign but people would have to be more conscious to gain the profit. He expressed his concern that the first six months of negative growth would have affected the share. Emphasizing upon the issue of price fall he indicated that there would have no growth in reality.
Bangladesh’s clothing product market came down to 444 billion in the year of 2016. But China still holds a position as one of the top exporter of apparel products. The market share of China increased from 36.4 % to 39.3% in the previous year. Bangladesh is moving towards a vast opportunity within few years.
In the recent years the Vietnam, one of the closest competitors of Bangladesh has overcome its previous loss by the emergence of market share to 5.5%. Khondaker Golam Moazzem, additional research director of the centre for policy dialogue (CPD) told the uprise into global market share and deducting the gap with China would be something hopeful for Bangladesh. The government of Bangladesh should look into the matter more seriously. One of the officials remarked the government should take some congenial business environment in order to bring investments from other countries.