According to statistics from the Bangladesh Garment Manufacturers and Exporters Association, Bangladesh’s clothing exports from July 2019 to June 2020 were US$27 billion, and Vietnam’s clothing exports reached 30 billion. Dollar. Vietnam has surpassed Bangladesh to become the world’s second largest garment exporter.
The competitiveness of Bangladesh’s apparel exports has been comparable to Vietnam’s in the past decade. But Bangladesh mainly exports low-priced clothing. Vietnam mainly exports high-priced clothing. Affected by the COVID-19 epidemic, Bangladesh’s garment exports fell by 18.12% in the last fiscal year. During the same period, Vietnam’s export revenue fell by 3.09%.
Bangladesh garment industry figures believe that the free trade agreement signed between the EU and Vietnam in June last year will take effect from next summer. In addition, Chinese investment in Vietnam plays an important role in promoting the country’s apparel exports. These are all positive factors for the growth of Vietnam’s clothing exports. </p
