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The garment industry, the main export sector of Bangladesh, is overcoming the crisis in Corona. The government is providing financial assistance to garment workers. Workers have now joined the work while maintaining health protection. As a result, the production of the factory is increasing more than before. Purchases that were suspended and canceled a few months ago are also returning. As a result, the export income of garment products is also increasing.
The single largest market for readymade garments in Bangladesh is the United States and a few countries in the European Union. Corona occurs in almost every country in those countries, including the United States. As a result, countries fall into economic misery with health risks. The negative impact of the corona risk of those buyers also falls on Bangladesh. Buyers from those countries have lost interest in buying clothes from Bangladesh. Closes any new purchase order. It even suspended and canceled previous orders.
As a result, the production and income of the garment industry, which accounts for the lion's share of the country's export earnings, declined in March. But over the past four months, the Bangladesh garment industry has been slowly recovering from those risks and declining export earnings. According to the Bangladesh Export Promotion Bureau (EPB), the impact of the corona virus on garment exports from Bangladesh decreased by 20.14 percent in March this year compared to the same period last year.
Then in April it decreased to 75.25 percent. And in May it decreased by 72 percent. Exports continued to decline in June. But its negative growth rate is lower than before. That is only 11.43 percent. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Dr. "Our garment exports have been declining since March this year," said Rubana Haque. We expected the situation to be relatively better in June. So it has been in reality. The fall rate has come down. Buyers are also increasing their purchases.
Under the influence of Corona, the ready-made garment sector of Bangladesh first faced a crisis in the supply of raw materials. In this situation, there are big buyers like Primark among the buyers who have canceled and postponed one purchase order after another. However, H&M, Inditex, Marks & Spencer, Kyabi, Target, PVH and some other buyers have also promised to maintain the purchase order.
As a result, the amount of cancellation and suspension of purchase orders may come down in the coming days. Meanwhile, due to the change in the global lockdown situation, new orders have also started coming to the garment factories. Factory owners say some of the canceled or suspended purchases have returned. The factories have also started getting new orders.
Factories on the one hand have started getting new orders for such garments. On the other hand, Corona is making new different types of clothing products keeping in mind the global demand. The country's ready-made garment sector is overcoming the crisis by making masks, gloves and PPE. Being able to maintain their position in the world market. Which is highlighted in a recently published report by the French news agency.
Although many garment workers lost their jobs due to the lockdown, work is in full swing at various factories in Savar and Gazipur near Dhaka. These factories are now developing safety equipment capable of preventing coronavirus infection and supplying it to Western countries. The workers are working in these factories 6 hours a day, 6 days a week. They are basically making the most of personal protection equipment (PPE). There is also a demand for face masks and gloves in western countries.
Syed Naved Hussain, chief executive of Beximco Garments, told AFP: "We saw in February that the demand for PPE had increased due to the global coronavirus. We changed the plan accordingly and focused on PPE preparation. Last May, Beximco Garments exported েন্ট 6.5 million (tk 55 crore) worth of PPE to the United States alone.
They will provide another 250 million (tk 212 crore) in security equipment this year. Naved Hussain said, "Currently, 80 percent of the garment workers in our factory are working in PPE manufacturing activities."
https://rmgbd.net/2020/07/সংকট-কাটি...0jEovCoxrHbDtw2AbKICwLha9IuGbPZNQXw99kipaO2BU
The single largest market for readymade garments in Bangladesh is the United States and a few countries in the European Union. Corona occurs in almost every country in those countries, including the United States. As a result, countries fall into economic misery with health risks. The negative impact of the corona risk of those buyers also falls on Bangladesh. Buyers from those countries have lost interest in buying clothes from Bangladesh. Closes any new purchase order. It even suspended and canceled previous orders.
As a result, the production and income of the garment industry, which accounts for the lion's share of the country's export earnings, declined in March. But over the past four months, the Bangladesh garment industry has been slowly recovering from those risks and declining export earnings. According to the Bangladesh Export Promotion Bureau (EPB), the impact of the corona virus on garment exports from Bangladesh decreased by 20.14 percent in March this year compared to the same period last year.
Then in April it decreased to 75.25 percent. And in May it decreased by 72 percent. Exports continued to decline in June. But its negative growth rate is lower than before. That is only 11.43 percent. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Dr. "Our garment exports have been declining since March this year," said Rubana Haque. We expected the situation to be relatively better in June. So it has been in reality. The fall rate has come down. Buyers are also increasing their purchases.
Under the influence of Corona, the ready-made garment sector of Bangladesh first faced a crisis in the supply of raw materials. In this situation, there are big buyers like Primark among the buyers who have canceled and postponed one purchase order after another. However, H&M, Inditex, Marks & Spencer, Kyabi, Target, PVH and some other buyers have also promised to maintain the purchase order.
As a result, the amount of cancellation and suspension of purchase orders may come down in the coming days. Meanwhile, due to the change in the global lockdown situation, new orders have also started coming to the garment factories. Factory owners say some of the canceled or suspended purchases have returned. The factories have also started getting new orders.
Factories on the one hand have started getting new orders for such garments. On the other hand, Corona is making new different types of clothing products keeping in mind the global demand. The country's ready-made garment sector is overcoming the crisis by making masks, gloves and PPE. Being able to maintain their position in the world market. Which is highlighted in a recently published report by the French news agency.
Although many garment workers lost their jobs due to the lockdown, work is in full swing at various factories in Savar and Gazipur near Dhaka. These factories are now developing safety equipment capable of preventing coronavirus infection and supplying it to Western countries. The workers are working in these factories 6 hours a day, 6 days a week. They are basically making the most of personal protection equipment (PPE). There is also a demand for face masks and gloves in western countries.
Syed Naved Hussain, chief executive of Beximco Garments, told AFP: "We saw in February that the demand for PPE had increased due to the global coronavirus. We changed the plan accordingly and focused on PPE preparation. Last May, Beximco Garments exported েন্ট 6.5 million (tk 55 crore) worth of PPE to the United States alone.
They will provide another 250 million (tk 212 crore) in security equipment this year. Naved Hussain said, "Currently, 80 percent of the garment workers in our factory are working in PPE manufacturing activities."
https://rmgbd.net/2020/07/সংকট-কাটি...0jEovCoxrHbDtw2AbKICwLha9IuGbPZNQXw99kipaO2BU
