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Vietnam s clothing exports boom in 2020, WTO says

Vietnam s share of the clothing market is second only to China s since last year A report issued Tuesday by the World Trade Organization (WTO) for clothing exports in the year 2020 has shown that Vietnam has surpassed Bangladesh as the second-largest global trader. According to the study, last year Vietnamese sales totaled US $ 29 billion, an increase of 6.4 percent year-on-year. The WTO also highlighted that in the last decade, the country s participation in the world clothing export market has skyrocketed and eventually surpassed that of Bangladesh, whose shipments decreased 6.8 percent in 2020. Hit hard by Covid-19, Bangladesh s output declined sharply as the pandemic forced factories to close by canceling orders or delaying payments for many Western brands.

Vietnam becomes second largest garment exporter | Business

Illustrative image (Photo: VNA) Berlin (VNA) - Vietnam has surpassed Bangladesh as the world’s second largest exporter of ready-made garments (RMG), Fashion United, an international B2B fashion platform, quoted the World Trade Statistical Review 2021 released by World Trade Organization (WTO). Bangladesh is now in third position, with China remaining the largest exporter accounting for 31.6 market share despite a 7 percent decrease in 2020, valuing its exports at 142 billion USD, said the report. Vietnam’s clothing exports increased by 6.4 percent in 2020 with a market value of 29 billion USD. Over the past decade, Vietnam’s share in the global apparel export market surged, while Bangladesh’s export growth dropped

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