Sweater suppliers in Bangladesh are witnessing relatively a dull season because of a longer-than-usual dry spell in European countries and the higher cost of living fueled by the Russian-Ukraine war.
Small garment factories struggling to stay afloat
The dearth of work orders from international retailers and brands to small and medium-sized garment factories is so acute that many entrepreneurs are looking for buyers to sell units and exit the industry for good.
The fallouts of the coronavirus pandemic have brought the SME garment units to their knees as orders collapsed with the global drop in sales.
The units of the apparel industry, considered the lifeline of Bangladesh s economy, had faced abnormal delays in payment from buyers, order cancellations and suspensions and non-availability of loans from the stimulus package.
However, the large garment factories in this top export earning sector are faring better to some extent when it comes to getting orders, thanks to better coping mechanisms stemming from their large production facilities and ability to make shipments on time.
Faysal Atik and Kazi Nafia Rahman,
bdnews24.com
Published: 15 Jan 2021 12:36 AM BdST
Updated: 15 Jan 2021 02:07 AM BdST A cleaner wearing protective gear sprays disinfectant at a readymade garment factory in Dhaka s Mirpur amid the coronavirus outbreak. Photo: Asif Mahmud Ove Workers wearing face masks sew garment at a factory in Dhaka s Mirpur amid the coronavirus outbreak. Photo: Asif Mahmud Ove
Readymade garment exporters of Bangladesh say they are struggling to survive the crisis caused by a drop in orders due to a second wave of the coronavirus pandemic in the US and Europe. );
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They fear a fresh downturn in the industry of around 4 million workers, executives, and small and medium investors.