In the first seven months of this year, Bangladesh earned $1.94 billion more in garment exports than Vietnam.
According to official data published by the two nations, Bangladesh exported knit and woven products worth $18.80 billion during the time, while Vietnam exported textiles and garments worth $16.86 billion.
Both countries, however, witnessed a negative growth during this period with 7.66% and 7.30% negative growth respectively recorded in Bangladesh and Vietnam.
“By the end of 2021, we can safely declare that Bangladesh will be the second largest garment exporting country,” said Mohiuddin Rubel, director of the BGMEA.
He further pointed out that when the data was published, the Vietnamese government combined textile and garment exports.
Vietnam has recently provided Bangladesh with stiff competition in the RMG market.
Vietnam dethroned Bangladesh as the world’s second largest economy earlier this year, according to the World Trade Statistical Review 2021.