Bangladesh has had to relinquish its position to Vietnam as Canada’s second-largest apparel exporter in 2022.
This is as per media reports, which citing data from the International Trade Centre added garment exports from Vietnam to Canada in 2022 increased by 46.35 per cent to US $ 1.75 billion compared to what was US $ 1.2 billion in 2021 even as Bangladesh’s garment exports to Canada in 2022 stood at US $ 1.73 billion, 35.2 per cent higher than US $ 1.28 billion in the previous year.
Meanwhile, addressing a recent programme, the Chairman of the Research and Policy Integration for Development MA Razzaque opined Bangladesh would have to face tough competition in Canada as at least 17 per cent duty would be imposed on garment products after the LDC graduation even as data further showed the share of Vietnam in the Canadian RMG imports increased to 14.10 per cent in 2022 from 9 per cent in 2018 while on the other hand in the past five years, the share of Bangladesh in the Canadian apparel market grew to 13.9 per cent from 11.61 per cent even if the share of Chinese apparels in Canada went down to 30 per cent in 2022 from 38.53 per cent in 2018.
