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Vietnam overtakes Bangladesh as the world’s second largest garment exporter

According to the statistics of the garment manufacturers and Exporters Association of Bangladesh, from July 2019 to June 2020, the clothing export volume of Bangladesh is 27 billion US dollars, and that of Vietnam is 30 billion US dollars. Vietnam has overtaken Bangladesh as the world’s second largest garment exporter. < p > < p > in the past decade, the competitiveness of clothing exports between Bangladesh and Vietnam has been comparable. However, Bangladesh mainly exports low-cost clothing. Vietnam mainly exports high priced clothing. Affected by the novel coronavirus pneumonia, Bangladesh’s clothing exports fell by 18.12% in the last fiscal year. Over the same period, Vietnam’s export revenue fell by 3.09%. < p > < p > according to the garment industry in Bangladesh, the free trade agreement signed between the EU and Vietnam in June last year will take effect from next summer. In addition, China’s investment in Vietnam has played an important role in promoting the country’s clothing exports. These are positive factors for the growth of Vietnam’s clothing export. Skip to content

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