In 2020, garment exports fell by 17 percent

Primark’s retail outlets in many European countries were shut down one by one during the global lockdown to prevent the first outbreak of the epidemic corona.Due to such a sudden downturn in business, the Irish-based company had to cancel huge orders to garment suppliers, which hit the country’s garment exports.

Debenhams, a UK-based consumer conglomerate, has been doing well since the outbreak. Kavid comes and makes their situation more fragile. Now Debenhams is looking for buyers to sell the business. They also canceled the purchase orders of garments given to those factories, which include many factories in Bangladesh.

According to data compiled by the Export Promotion Bureau (EPB) and BGMEA on the basis of data collected from the National Board of Revenue (NBR), Bangladesh exported a total of 2,731 billion worth of garments to the world market in the year ended. However, in 2019, the export of garments worth 3 thousand 293 million dollars. As a result, exports fell 17 percent, or more than 561 billion. According to industry insiders, exports have declined due to the impact of corona.

Sunbd/NJ