18
World Bank Study
Figure 2.1. Clothing Exporter Countries Post-MFA, Percentage Change 0.35 0.3 0.25 0.2
Percent
0.15 0.1 0.05
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Clothing exports, percentage change 2004-2005, top 15 exporters plus SSA
Source: UN COMTRADE. Note: Clothing represented by HS 61 and HS 62.
With regard to the global economic crisis, export shares increased for China (from 36.9 to 38.6 percent), Bangladesh (from 3.5 to 4 percent), and Vietnam (from 2.4 to 2.8 percent) between 2007 and 2008. Because data for 2009 is only available for the United States and the EU market (see below) but not for total exports, these developments are provisional as they only capture the initial year of the global economic crisis. Altogether the Asian 12 increased their market share from 51.8 percent in 2007 to 53.8 percent in 2008, which is driven by China, Bangladesh, and Vietnam. India, Indonesia, Tunisia, Morocco, and Cambodia experienced stable export shares in 2008. Turkey, Hong Kong SAR, China, Mexico, Thailand, and Romania experienced declining export shares in 2008. LICs as a group increased their global export share slightly from 13.2 percent in 2007 to 14 percent in 2008. Generally the top 15 export countries increased their market share from 77.6 percent to 85.5 percent in the period from 2004 to 2008. Over the whole period 2004 to 2008 Vietnam (116 percent), China (82 percent), Bangladesh (69 percent), Cambodia (66 percent), India (65 percent), and Indonesia (44 percent) accounted for the highest export growth rates (in terms of value, see figure 2.2). The Asian 12 increased their market share from 42.4 percent in 2004 to 53.8 percent in 2008. The largest declines in clothing exports in the period 2004 to 2008 were accounted for by Hong Kong SAR, China (46 percent), Mexico (36 percent), Romania (22 percent), and SSA (14 percent). Hence, within the top 15 global clothing exporter countries, low-cost Asian clothing exporters such as China, India, Bangladesh, and Vietnam and to a lesser extent Indonesia and Cambodia increased their export shares in global markets between 2004 and 2008; they were the main winners of the MFA phaseout and up to 2008 had not been strongly affected by the global economic cri-