The government told Reuters it was considering a new support package for the industry that contributes almost 16% of GDP to the economy. Companies in the world's largest garment exporting nation after China supply to big Western brands such as Walmart Inc, Gap Inc and H&M. "The first wave of the pandemic rattled the supply chain and the financial base of the industry through order cancellations, payment deferments and discount demands," said Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association. Huq said readymade garment exports fell 9.69% in December from a year earlier, led by an 18% drop in sales of woven garments. Low wages have helped Bangladesh rapidly scale up its garment industry that now has some 4,000 factories employing 4 million workers.

Source: bd News24 January 27, 2021 13:41 UTC