Bangladesh ranks second after China in the world trade in readymade garments, making it the second-largest exporter. Bangladesh has surpassed Vietnam in this competition. At the end of 2021, Bangladesh’s exports exceeded Vietnam by 472 million dollars. Such information has come up in the review report of the World Trade Organization (WTO).
According to a review report by the World Trade Organization (WTO), Bangladesh had lost its status to Vietnam as the second-largest garment exporter in 2020. Vietnam was ahead of Bangladesh by exporting more garments worth 100 crore dollars. In that year, Bangladesh exported garments worth 2,800 crore dollars. Vietnam’s exports amounted to 2,900 crore dollars. After the first COVID-19 patient was identified in the country at the beginning of March 2020, the garments factories remained closed for a total of 85 days due to several lockdowns. Vietnam used this opportunity to get ahead in garments exports.
Statistics from the Bangladesh Export Promotion Bureau (EPB) and the Trade Promotion Council of Vietnam (VIETRADE) show that in 2021, Bangladesh’s garments exports to the world market amounted to 3,580 crore dollars. At the same time, Vietnam’s exports amounted to 3,108 crore dollars.
Out of the 12 months last year, Bangladesh exported more readymade garments than Vietnam for 10 months. However, Vietnam was ahead in March and July.
