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Bangladeshi apparel, footwear manufacturer revenue decline 77 per cent

A survey titled “Sedex Insights Report: Covid-19 Impacts on Businesses’ reveals revenues of Bangladeshi export oriented apparel and footwear manufacturers declined 77 per cent due to the COVID-19 pandemic impact. The survey conducted on 3,300 buyers and suppliers across 118 countries showed the garment and footwear sectors have been worst affected by the pandemic. Of the total surveyed, 469 suppliers from garment and footwear industries are from China, India, Bangladesh, and Turkey. According to the findings, 68 per cent member countries reported a significant decline in their revenue while only 38 to 55 per cent on average reported its customers are being supportive during the pandemic.

Only 10 per cent respondents have seen an increase in or steady revenue, the survey added. Almost, 43 per cent respondents viewed disruption to supply chains and inability to get input of raw materials as the biggest challenged they faced. Reasons for this included delay in raw material delivery, suppliers stopping production, and higher prices of raw materials or transport. On the other hand, 20 per cent respondents have had orders cancelled by customers and 4 per cent experienced delayed payment terms, it showed.

The combination of squeezed production times and poor purchasing practices puts significant additional pressure on suppliers and workers, increasing the likelihood of poor working conditions, it added.

 

 
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