Notwithstanding recent reports that many global buyers have reinstated work orders that were earlier cancelled/put on hold due to COVID-19, garment manufacturing units in the country do not seem to have anything substantial to look up to for the remaining part of the year.
According to media reports, the apex garment makers body in the country – the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) – carried out a survey recently, as per which, in the month of July 56 per cent capacity is utilised.
However, for the consolidated period of July-December, only 35 per cent capacity of the industry is reportedly booked.
This means, 65 per cent capacity would effectively remain unutilised.
Further, according to the survey, prices of apparel products, in the second half of this year, are showing an average 14 per cent drop, compared to the corresponding period of last year.