Bangladesh Loses RMG Global Market Share, Vietnam Gains

 
In spite of the extension to pick up from the China-US exchange war, Bangladesh lost its worldwide piece of the overall industry in clothing sends out by 0.1 rate point to 6.4 percent in 2018 while Vietnam picked up more current piece of the pie. In any case, in monetary 2018-19, Bangla clothing division send out income posted a 11.49 percent development to hit $34.13 billion from $30.61 billion in the past financial.

Bangladesh's offer in the worldwide clothing business sector was 6.5 percent in 2017. Vietnam limited the hole with Bangladesh, with its piece of the pie remaining at 6.2 percent in 2018, up by 0.3 rate focuses, which was 5.9 percent in 2017.

Out of the worldwide clothing fare market of $421 billion, Bangladesh snatched $32 billion of every 2018, which was $29 in 2017, as per the World Trade Statistical Review 2019 discharged as of late by the World Trade Organization (WTO).

Despite the fact that China still holds its situation as the top exporter of clothing items with $158 billion, its piece of the pie slid to 31.3 percent in 2018 from 34.9 percent in the earlier year, as indicated by Bangla media reports.

India's piece of the overall industry boiled down to 3.3 percent from 4.1 percent, while Turkey's offer tumbled to 3.1 percent, which was 3.3 percent a year prior.

Specialists ascribe the slid to absence of conveyance limit and higher energy about taka against the US dollar, which influenced Bangladesh's attire makers' focused edge in the worldwide market.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Rubana Huq sees the ascent of Vietnam's piece of the overall industry as an extraordinary danger for Bangladesh as it has more preferences. (DS)