18 Billion 400 Million Yuan Orders Were Cancelled, Bangladesh Garment Industry Suffered Heavy Losses
Recently, the new coronavirus pneumonia is rampaging around the world, causing serious impact on all sectors of the world, especially in aviation, transportation, catering, automotive and entertainment industries. Among them, dozens of global airlines have declared bankruptcy.
With the development of the epidemic, the garment industry is also experiencing a serious crisis. Bangladesh clothing manufacturers and Exporters Association said today: the domestic garment orders of up to 2 billion 600 million US dollars (about 18 billion 400 million yuan) were forced to cancel, affecting 1 million 960 thousand practitioners.
Bangladesh garment manufacturers and Exporters Association said today: because of the outbreak, a number of countries implemented blockade measures, and a large number of shops were forced to close, resulting in a large number of businesses unable to operate normally, and then brought serious crises to Bangladesh's clothing manufacturing industry.
Bangladesh Minister of Commerce said: according to the latest statistics, up to 2 billion 600 million U.S. dollars in clothing orders have been canceled, involving 966 garment factories, about 828 million garments, affecting 1 million 960 thousand employees, and with the further development of the epidemic, this situation will continue to deteriorate.
Bangladesh is the second largest garment exporter in the world, second only to China. At present, there are about more than 4600 garment manufacturing factories in Bangladesh, with 4 million 100 thousand employees, mainly receiving orders from Europe, the Americas and Australia. The data show that the total export volume of Bangladesh from 2018 to 2019 is 40 billion 500 million dollars, of which clothing accounts for 84.21%, of which more than 60% The garments are exported to EU countries.
The Ministry of Commerce of Bangladesh said: "we do not want any businesses to cancel any orders. They can choose to postpone the purchase and pay part of the deposit in advance. This will help clothing manufacturers to survive better and keep buyers' good credit.
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