Vietnam Overtakes BD as Second Largest Apparel Exporter to Canada

Industry: RMG, RMG & Textile
Economic Tag: Export

Vietnam has surpassed Bangladesh as the second-largest apparel exporter to Canada in 2022, benefiting from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Bangladesh’s apparel exports to Canada reached $1.73 billion, a 35.2% increase compared to the previous year, while Vietnam’s exports rose by 46.35% to $1.75 billion. The CPTPP provided Vietnam with duty-free access to the Canadian market, leading to its increased market share. However, experts note that Bangladesh may face tougher competition in the future due to duty impositions after transitioning from a least developed country to a developing one in 2026. The Chinese apparel market share in Canada decreased to 30% in 2022. To address these challenges, experts recommend bilateral and regional arrangements with major trading partners to maintain Bangladesh’s market position.

Source for more details:

Related News

Jute Export Fee Hike Paused for Industry Review

April 23, 2025

The Bangladeshi government has suspended its recent decision to sharply increase export fees on raw jute and jute products after significant backlash from industry players. The fee for raw jute exports was set to rise from Tk 2 to Tk 7 per bale, and for jute products from Tk 0.10 to Tk 0.50 per Tk 100—marking a substantial jump after 30 years.

Matin Spinning Profit Rises To Tk 102 Million In Q3 FY25

April 21, 2025

Matin Spinning Mills posted a 7.15% year-on-year profit increase to Tk 102 million in Q3 (January–March), with EPS rising to Tk 1.05 from Tk 0.98. The company recorded its highest-ever Q3 sales revenue at Tk 2.04 billion, reflecting a 16% year-on-year increase.

128 New RMG Factories Create 74000 Jobs in 15 Months

April 21, 2025

Between January 2023 and March 2024, 128 new readymade garment (RMG) factories joined BGMEA, potentially creating 74,000 jobs if fully operational. In the same 15-month period, 113 member factories shut down, displacing 96,104 workers—76,504 of them after August 2023 alone.

Apparel Exporters Face $250 Million Monthly Tariff Risk

April 20, 2025

Bangladesh’s apparel manufacturers warn that without a permanent removal of the 37% tariff on exports to the US, the sector will face an additional $250 million in duties each month, threatening the survival of about 1,000 factories. Industry leaders are urging the interim government to negotiate with the US for a complete and lasting tariff withdrawal.

US Garment Exports Rise 17% Amidst Overall Growth

April 20, 2025

Bangladesh's garment exports to the United States increased by 17.23 percent during the July-March period of FY2024-25, despite concerns over potential tariffs. The US accounted for 18.97 percent of Bangladesh's total garment exports, with shipments valued at $5.74 billion. Overall, Bangladesh's ready-made garment (RMG) exports grew by 10.84 percent, reaching $30.25 billion.

Inditex to Expand Sourcing and CSR Ties with Bangladesh

April 13, 2025

Inditex, the world’s largest fast fashion group and owner of brands like Zara and Bershka, intends to strengthen its longstanding partnership with Bangladesh, reaffirming the country's role as a critical sourcing hub.

Related News

Jute Export Fee Hike Paused for Industry Review

April 23, 2025

The Bangladeshi government has suspended its recent decision to sharply increase export fees on raw jute and jute products after significant backlash from industry players. The fee for raw jute exports was set to rise from Tk 2 to Tk 7 per bale, and for jute products from Tk 0.10 to Tk 0.50 per Tk 100—marking a substantial jump after 30 years.

Matin Spinning Profit Rises To Tk 102 Million In Q3 FY25

April 21, 2025

Matin Spinning Mills posted a 7.15% year-on-year profit increase to Tk 102 million in Q3 (January–March), with EPS rising to Tk 1.05 from Tk 0.98. The company recorded its highest-ever Q3 sales revenue at Tk 2.04 billion, reflecting a 16% year-on-year increase.

128 New RMG Factories Create 74000 Jobs in 15 Months

April 21, 2025

Between January 2023 and March 2024, 128 new readymade garment (RMG) factories joined BGMEA, potentially creating 74,000 jobs if fully operational. In the same 15-month period, 113 member factories shut down, displacing 96,104 workers—76,504 of them after August 2023 alone.

Apparel Exporters Face $250 Million Monthly Tariff Risk

April 20, 2025

Bangladesh’s apparel manufacturers warn that without a permanent removal of the 37% tariff on exports to the US, the sector will face an additional $250 million in duties each month, threatening the survival of about 1,000 factories. Industry leaders are urging the interim government to negotiate with the US for a complete and lasting tariff withdrawal.

US Garment Exports Rise 17% Amidst Overall Growth

April 20, 2025

Bangladesh's garment exports to the United States increased by 17.23 percent during the July-March period of FY2024-25, despite concerns over potential tariffs. The US accounted for 18.97 percent of Bangladesh's total garment exports, with shipments valued at $5.74 billion. Overall, Bangladesh's ready-made garment (RMG) exports grew by 10.84 percent, reaching $30.25 billion.

Inditex to Expand Sourcing and CSR Ties with Bangladesh

April 13, 2025

Inditex, the world’s largest fast fashion group and owner of brands like Zara and Bershka, intends to strengthen its longstanding partnership with Bangladesh, reaffirming the country's role as a critical sourcing hub.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here