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).
Berlin (VNA) - Vietnam has surpassed Bangladesh as the world’s secondlargest exporter of ready-made garments (RMG), Fashion United, an internationalB2B fashion platform, quoted the World Trade Statistical Review 2021 releasedby World Trade Organization (WTO).
Bangladesh is now in third position, with China remainingthe largest exporter accounting for 31.6 market share despite a 7 percent decrease in2020, valuing its exports at 142 billion USD, said the report.
Vietnam’s clothing exports increased by 6.4 percent in 2020with a market value of 29 billion USD. Over the past decade, Vietnam’s share inthe global apparel export market surged, while Bangladesh’s export growth droppedfrom 6.8 percent to 6.3 percent in 2020.
Bangladesh output declined during the pandemic, withfactories closed as many western brands cancelled orders or delaying payments.Ongoing compliance issues have also forced closures while Vietnam managed todiversify its production making not just low-end, fast fashion garments butalso mid and high-end clothing and accessories.
In 2019 Vietnam and the European Union signed a free tradeagreement which significantly boosted trading to the world’s largest bloc.
Politically Vietnam is stable, and its citizens have access to better educationinfrastructure and healthcare, according to the article./.
Export revenue of the garment and textile sector surged 21.2 percent year on year in the first five months of 2021 to about 15.2 billion USD, according to the Vietnam Textile and Apparel Association (VITAS).
Vietnam’s “one-billion USD” club, which comprises exports with turnover of more than 1 billion USD, saw the presence of 25 commodities in the first half of 2021, with their combined export earnings accounting for 88.9 percent of the country’s total.
Export revenue from the EU market reached 22.5 billion USD in the first seven months of 2021, a year on year rise of 15.5 percent, reported the Ministry of Industry and Trade.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Illustrative image (Photo: VNA) 
