“It was a year of trepidation and angst,” said Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association, the sector’s apex trade body. About 1,150 apparel makers faced order cancellations or deferred shipments worth $3.18 billion, according to data from the BGMEA. No data is available yet on the order cancellations or held orders for the second wave. In the first 11 months of the year, garment shipments fetched $24.8 billion, down 17.6 per cent year-on-year, according to data from the Export Promotion Bureau. The garment exporters are owed upwards of $84 million by the three companies, according to sector people.

Source: Dhaka Tribune December 27, 2020 19:52 UTC