The global apparel market expanded to $557.50 billion in 2024, marking a 7.08% year-on-year rise from $520.62 billion, according to new data from the World Trade Organization (WTO).

China remained the top exporter with $165.24 billion in apparel exports, a modest increase of 0.30%. Bangladesh maintained its second place with $38.48 billion in exports, registering a minimal growth of 0.21%.

Vietnam emerged as the fastest-growing among leading exporters, with a 9.34% surge to $33.94 billion, reinforcing its growing strength in the global apparel value chain.

Other major exporters showed mixed performances: Turkey ($17.91 billion), India ($16.36 billion), Cambodia ($9.89 billion), Pakistan ($9.28 billion), Indonesia ($8.73 billion), and the US ($7.00 billion). Export growth among these countries varied widely, highlighting shifting sourcing trends and policy uncertainties.

In terms of market share, China led with 29.64%, down from 31.64% in 2023. Bangladesh followed with a decline of 0.48 percentage points, to 6.90%, also a decrease from 7.38%. Vietnam’s share rose to 6.09%, while Turkey and India held 3.21% and 2.94%, respectively.

Commenting on Bangladesh’s stagnant growth, Mohiuddin Rubel, former BGMEA director, said the country must diversify, invest in innovation, and strengthen sustainability efforts to maintain its global position.

He warned that inflation, evolving buyer expectations, and stricter regulatory demands could reshape the future of the global apparel trade.