Dhaka, July 8 -- Despite holding its position as the world's second-largest apparel exporter, Bangladesh faces growing competition from Vietnam, which is emerging as a formidable rival in the global market.

According to the World Trade Organization (WTO) data for 2024, Bangladesh secured $38.48 billion with a growth rate of 0.21%, while Vietnam emerged as a strong contender with a notable growth rate of 9.34%, amounting to $33.94 billion in exports.

The global apparel market has reached a total size of $557.50 billion, showing a 7.08% growth from the previous year's $520.62 billion, according to the WTO data for 2024.

China, leading the market, achieved $165.24 billion in exports, marking a modest growth of 0.30%. Following closely, Ba...