Bangladesh overtakes Vietnam in RMG earnings in Jan-Jul: BGMEA

15 Sep '21

1 min read

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Bangladesh has regained its position as the second largest apparel exporter by earning $1.94 billion more than Vietnam in the first seven months of this year, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Bangladesh exported apparel products worth $18.80 billion during the period, against Vietnam's $16.86 billion.

According to the General Statistics Office (GSO) of Vietnam, the country earned $18.46 billion from textile and garments export between January and July this year.

However, both the countries witnessed a negative growth of 7.66 per cent and 7.3 per cent respectively during this seven-month period compared to 2019.

Earlier, Vietnam had overtaken Bangladesh to turn the second-largest global readymade garment (RMG) exporter, according to the World Trade Statistical Review 2021 released by World Trade Organisation (WTO) on July 30 this year.

According to that data, Bangladesh’s share in the global apparel market dropped to 6.3 per cent in 2020 from 6.8 per cent with a market value of $28 billion in the same year, while Vietnam's share in global RMG exports stood at 6.4 per cent in 2020, up from 6.2 per cent a year earlier with a market value of $29 billion.

Fibre2Fashion News Desk (DS)

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