Bangladesh’s apex garment makers’ body, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has recently claimed that the flow of work orders from global buyers has started decreasing again in view of the economic slowdown in the importing countries.
Media reports maintained this while citing BGMEA President Faruque Hassan, who addressing a press meet in Dhaka reportedly maintained many global buyers are placing smaller volume orders even as some are putting work orders on hold and some even shipments, as brands and retailers sit on stockpiles of apparel in their stores, thanks to high inflation.
The BGMEA President further reportedly stated sales of apparel products declined in the global market due to high inflation, owing to the ongoing Russia-Ukraine war, with gas and electricity price hikes in Bangladesh, at the same time, negatively impacting the country’s apparel industry.
He also added that full capacity remained unutilised in most of the factories due to a lack of orders and in some cases, many units have also been forced to keep production suspended for two to three days in a week.
