Imports will decline by $128 billion this year and consumption by $328 billion next year by the countries, it adds. A research titled– Impact of Covid-19 on Key Apparel Markets– was conducted by Wazir Advisors, an India- based consulting and advisory firm made the projections. The consumption in EU market to fall by 59%, US 63% and Japan 20% in 2020, says the research. As a result, slower import and decline in consumption in big economies will be a big concern for Bangladeshi manufacturers. China’s share has reduced from 17% to 15% in last 3 years in EU markets, which are mostly taken by Bangladesh, the Netherlands and Poland.

Source: Dhaka Tribune April 28, 2020 16:52 UTC