BGMEA eyes 10% share of global apparel market by 2025

2022-10-16 19:57:41 By : Ms. Rose Qi

Bangladesh wants to grab a 10 per cent share of global apparel markets by 2025 on the back of the diversification of both products and markets, BGMEA President Faruque Hassan said today.

By 2022, Bangladesh also wants to capture an 8 per cent market share as other countries are losing their market share, he said.

He was speaking at a press conference at the office of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Currently, the share of Bangladesh, the second-largest garment exporter, in the global apparel market is 6.8 per cent. The share is expected to cross 7 per cent this year. Every year, the World Trade Organisation (WTO) prepares the data on global market shares of different merchandise, including garment items. The WTO is scheduled to announce the data on the global apparel market share of 2021 at the end of September.

Hassan said Asian markets such as India and Japan will be the major export destinations for Bangladesh as it looks to earn $100 billion from the sales of apparel items in the global markets by 2030.