Shifting of ready-made garment (RMG) work orders from China and Vietnam is proving advantageous for Bangladesh.

Bangladesh has secured the second spot in the global clothing trade, exporting $45 billion in 2022 and capturing 7.9% of the market share. This is a rise from 6.4% in 2021. China’s share was 31.7% and Vietnam’s 6.1%. Bangladesh’s success comes from gaining orders shifted from China and Vietnam. China’s market share is decreasing due to increased costs and worker preferences for tech industries. Bangladesh’s strength lies in consistent exports, especially to the US, while diversifying into innovative garment products. The goal is to reach 14% market share by 2030. To sustain growth, free trade agreements, diversification, and government support are crucial.

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