The International Trade Centre data reveals that garment exports from Vietnam to Canada in 2022 increased by 46.35 percent to US $ 1.75 billion against US $ 1.2 billion in 2021 replacing Bangladesh as the second highest exporter to Canada.
It is not that Bangladesh lost the Canadian market but its growth in the Canadian market was lower than Vietnam. Bangladesh’s garment exports to Canada in 2022 stood at US $ 1.73 billion, 35.2 percent higher than the US $ 1.28 billion in the previous year.
The planners in Bangladesh are not taking this slide against Vietnam lightly. Chairman of the Research and Policy Integration for Development MA Razzaque cautioned that Bangladesh would have to face tough competition in Canada as at least 17 percent 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 percent in 2022 from 9 percent 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 percent from 11.61 percent.
The share of Chinese apparel in Canada went down to 30 percent in 2022 from 38.53 percent in 2018. Chinese share was partly grabbed by Bangladesh and Vietnam. This shows that other countries have also benefited from the decline in Chinese share.
It is not that Bangladesh lost the Canadian market but its growth in the Canadian market was lower than Vietnam. Bangladesh’s garment exports to Canada in 2022 stood at US $ 1.73 billion, 35.2 percent higher than the US $ 1.28 billion in the previous year.
The planners in Bangladesh are not taking this slide against Vietnam lightly. Chairman of the Research and Policy Integration for Development MA Razzaque cautioned that Bangladesh would have to face tough competition in Canada as at least 17 percent 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 percent in 2022 from 9 percent 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 percent from 11.61 percent.
The share of Chinese apparel in Canada went down to 30 percent in 2022 from 38.53 percent in 2018. Chinese share was partly grabbed by Bangladesh and Vietnam. This shows that other countries have also benefited from the decline in Chinese share.