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Bangladesh: Garment export plummets by 83.74 per cent, says BGMEA

Data from BGMEA indicates, garment export fell drastically, by 83.74 per cent to $194 million in the first 15 days of April compared to the same period last year. In the first 15 days in 2019, the earning from garment shipment was $1.19 billion. The pandemic affected shipment of garments significantly as a majority of Western retailers and brands shut down their stores in Europe and the US.

Apart from the steep fall in shipment, international retailers and brands have already cancelled work orders from different local factories worth more than $3.11 billion as of this week due to the COVID-19 pandemic. The receipts from garment shipment also declined significantly in March this year. Garment export declined by 26.70 per cent to $1.97 billion in March this year compared to the corresponding month in 2019, when export netted $2.69 billion.

 
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