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* BGMEA claims $ 5 million worth of apparel exports are damaged
* Clothing exports in the first week of April decreased 5.7 percent
The country’s export-oriented clothing industry has suffered a major setback due to the coronavirus. Foreign brands and consumer organizations have canceled and canceled large purchases in the past month due to the spread of the crown in countries like Europe, the United States. Since then, the factory has closed to reduce virus transmission. As a result, apparel exports have already declined considerably.
During the first seven days of April this year, garments worth $ 122 million were exported. However, in the first seven days of April last year, exports amounted to $ 10 million dollars. Therefore, in the first week of April this year, the export of garments decreased by 5.7 percent. Of course, last month, there was an indication of a huge boost in apparel exports. Last year, garments worth $ 10 million were exported, which is 5 percent less than in March last year. On March 27, exports worth $ 2 billion were exported.
According to the National Revenue Board (NBR) and the Office of Export Development (EPB), said BGMEA, a manufacturer of owners of the garment industry. The company forecasts the export of the first week of April, the cancellation of the purchase of the garment and the postponement of the statistics, it is expected that by the end of April this year, $ 1 million in clothing can be exported. If that is the case, exports will be approximately 5 percent lower than in April last year. BGMEA fears that garment exports will not reach hundreds of millions of dollars in May.
When asked, BGMEA President Rubana Haque said: “In the current situation due to the coronavirus, we fear that at the same time of the current year, that is, at the same time of the current year, from March to May, clothing exports will be less than three million dollars in three months. “
According to the EPB, apparel exports totaled $ 1 billion in the financial year. At the time, growth was 3 and a half percent. During the first eight months (July-February) of fiscal year 20-27, $ 2 billion in clothing was exported. This income is 3 and a half percent less than the same last fiscal period.
The death toll from the pandemic coronavirus worldwide has risen to 9,600 from 9 a.m. to Sunday night. Many countries around the world are locked up to prevent infection. Due to the closure of the store, companies and consumer brands began to cancel and suspend the purchase of clothing from the second week of last month. Until yesterday morning, the purchase of garments from 1.02 million rear garments from 4,500 factories was suspended and canceled. BGMEA claims that the export of clothing worth $ 10 million will be affected.
However, Sweden-based retailer H&M has announced the purchase of ready-made clothing at its designated factory. Many exporters have already said that clothing exporters in the United States are PVH, Target, Gap and VF Corporation, Inditex in Spain, Marks & Spencer (M&S) in Spain and some companies and consumer brands, including LPP in Kiabi, France. , Poland. Meanwhile, Gap claims to have sold 12 percent of his clothing for spring and summer. In addition, some brands have said that there will be a delay in paying the price of clothing.
Meanwhile, last month, the Prime Minister announced the Rs 5 billion incentive package to facilitate the payment of wages to workers in export-oriented companies, including clothing, due to the crown. From that fund, garment owners will be able to borrow from April, May, and June to pay their wages. Homeowners will have to pay only 2 percent for that.
Meanwhile, many factory owners are unable to pay workers’ wages for the month of March. As a result, workers at at least two dozen factories in Dhaka, Narayanganj, Gazipur and Savar-Ashulia protested yesterday over the wages.
When asked how the first vice president of the Knitwear Industry Owners Association BKMEA, Mohammad Hatem, told First Light: “Due to the crown, most factories stopped producing after March 25. However, some factories continued production until the last day of March. Basically their products are exported. As a result, exports will collapse. According to the information I get from buyers, it seems that the situation is normal, but very soon the factories will not. they will be able to operate at full capacity. How many factories can survive in the end is the big question?
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