Citing the latest statistics on world trade in 2021 published by the World Trade Organization (WTO), the Vietnam Textile and Apparel Association (Vitas) said that Vietnam has surpassed Bangladesh to become an exporter of goods. second largest garment in the world.
The latest World Trade Statistics Report 2021 of the WTO said that Vietnam has maintained a continuous growth rate over the years. In 2020, Vietnam's garment exports will grow by 6.4% with a market price of $29 billion.
Notably, in the past 10 years, Vietnam's share in the global garment export market has increased sharply. Meanwhile, the growth rate in Bangladesh's garment sector has decreased from 6.8% to 6.3% in 2020.
With this data, Vietnam has surpassed Bangladesh in garment exports, second only to China - a country with a market share of 31.6% (down 7% in 2020), with an export value of 142 billion USD.
Vietnam has become the second largest garment exporter in the world, surpassing Bangladesh.
Vietnam becomes the second largest garment exporter in the world
Statistical table of Top 10 garment exporters in the world in 2020
In addition, the WTO report also shows that Vietnam's garment exports have decreased by 7.0% in 2020 compared to 2019 while Bangladesh faces a 15% decrease.
The cause of this decline is the impact of the Covid-19 pandemic, which has forced factories in Bangladesh to close as many Western brands cancel contracts or delay payments.
In Vietnam, thanks to good epidemic control in 2020, along with effective policies to attract foreign investment, Vietnamese textile and garment enterprises meet compliance regulations well, always looking for ways to diversify their products. manufactures, not only fast fashion (cheap, trendy) apparel but also mid-range and high-end clothing and accessories.
Especially, in the context of the epidemic, but Vietnamese textile and garment enterprises always improve their access skills, innovate products to adapt to the market, promote online marketing of goods and improve productivity. labor.
"Vietnam's textile and garment exports have decreased compared to 2019, but the decline is still lower than that of the Bangladesh market," the statistical report said.
Data from the Ministry of Industry and Trade shows that Vietnam's textile and garment export turnover in the first 7 months of the year reached 18.6 billion USD, up more than 14% over the same period last year.
According to the Ministry of Industry and Trade, some main export markets such as the US and Europe increase the demand for clothes and shoes when the economy starts to recover and the social distancing orders are removed. This creates an opportunity for the textile and garment industry to reach the target of $ 39 billion this year, the same growth figure as before Covid-19 appeared.
Source: tapchicongthuong.vn
