Notwithstanding the recent good run in the apparel export front, Bangladesh garment industry seems to be facing some challenges after volume of work orders have taken a hit thanks to the rising inflation in many parts of the West and the uncertainty caused by the Russia-Ukraine war, which is showing little signs of ending soon.
Speaking to the media, BGMEA President Faruque Hassan, reportedly, maintained compared to the March to June season, work orders for September to November season shrank by 20 per cent.
“International clothing retailers and brands have cut the work orders by 20 per cent,” reportedly, maintained the BGMEA chair even if Chairman of Envoy Textiles Kutubuddin Ahmed, who is one the top garment exporters in Bangladesh, reportedly, claimed stores of many major retailers and brands still have a large volume of unsold inventory due to which they are either not placing new orders or seeking deferral payments or urging suppliers to put shipments on hold.
This reduction in work orders has now emerged as a cause of concern for the industry, added the report further.
