Bangladesh is the second biggest apparel supplier in the world accounting for a 6.5 per cent market share. One factor that has consolidated Bangladesh’s position in the global apparel trade is bulk orders for value added items. As much as 40 per cent of Bangladesh’s garment exports comprise value added items, which fetch more money for exporters.
Bangladesh’s garment shipments are up 8.76 per cent year-on-year. The country’s image has brightened after the near-completion of factory remediation as per recommendations made by Accord and Alliance. Almost all top clothing retailers like H&M, Walmart, JC Penney, Inditex, Zara, Gap, M&S, Uniqlo, C&A, Tesco, Hugo Boss and Adidas have been sourcing garments worth billions from Bangladesh every year.
Rising garment shipments to new and emerging Asian markets such as India, China and Japan have also contributed to the higher earnings. China remains the largest apparel supplier globally, with a 34.9 per cent share. Vietnam is third with a 5.9 per cent market share. India ranks fourth in garment exports and Turkey is fifth with a 3.3 per cent market share.