After largescale order cancellations due to global Coronavirus outbreak – which runs to a whopping US $ 3.15 billion by some estimates – Bangladesh garment makers are now bracing for a significant export fall.
Export decline of a staggering US $ 5 billion!
This is what the garment makers of the country are apprehending between March and May ’20.
As per media reports, the apex garment exporters’ body of Bangladesh, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), reached this projected figure based on the data provided by the Export Promotion Bureau (EPB) of Bangladesh and the country’s National Board of Revenue (NBR).
“It can be estimated that export from March to May 2020 will fall short of around US $ 4.9 billion from regular exports or confirmed orders,” stated Dr.
Rubana Huq, BGMEA President.
