The Covid-19 pandemic is unprecedented in its global reach and impact, posing formidable challenges to policymakers and the empirical analysis of its direct and indirect effects within the interconnected global economy. The pandemic has hit hard irrespective of the country you are in. The textile and clothing industries provide a single source of growth in Bangladesh’s rapidly developing economy. Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh’s total merchandise exports.
According to Apparel Resources, almost 357 thousand of 4.
1 million garment workers have lost their jobs because of the pandemic. The study was conducted at 610 factories in Bangladesh. The study also showed that most factories, including major corporations, had no strategy or financial resources to help them deal with the imminent crisis.
Just 44 percent of the factories surveyed said they trusted job orders in April.
The average number of employees per factory dropped from 886 to 790 between December 2019 and September 2020, as identified by researchers from the Bangladesh Center of Policy Dialog and Mapping. According to the report, some 232 plants comprising 6.
9% of Bangladesh’s total facilities shut down under the pandemic titled ‘Vulnerability, stability and regeneration in the RMG Sector because of the COVID pandemic: Enterprise Survey results.
