The socialist South Asian country Vietnam has now overtaken Bangladesh to become the second largest exporter of RMG globally.
Consequently, Bangladesh now holds the position of the third largest global exporter of RMG.
Bangladesh dominated the global apparel industry as the second largest exporter of RMG for a long stretch of years, with China holding the first position.
However, due to several reasons along with pandemic-induced global economic downturn being a pivotal reason, Bangladesh no longer holds the position of the second largest exporter of RMG in the world.
Bangladesh’s share in the global apparel market dropped to 6.3% in 2020 from 6.8% a year earlier.
This information was revealed in the World Trade Statistical Review 2021 released by World Trade Organization (WTO) on Friday.
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