Bangladesh has recorded lowest growth ever in the past decade, in 2019. Export Promotion Bureau (EPB) figures reveal that exports grew by just 0.42 per cent – US $ 33.07 billion worth of garments in 2019 as against US $ 32.93 billion worth of garments in 2018. In fact, the peril for exporters began after a whopping 51 per cent wage hike; and Bangladesh’s failure to utilise US-China Trade War in 2019.
The outburst of Coronavirus or COVID-19 has dented China’s manufacturing, be it readymade garments and textile, automobile sector, electronics, pharmaceutical or IT, none has been spared by this virus, this has severely impacted supply chain in trims and fabrics. But among all this downtrend news, the industry is happy that the Government has decided to introduce the ‘Green Factory Award’ in the country’s industrial sector to commemorate the birth centenary of ‘Father of the Nation’ Bangabandhu Sheikh Mujibur Rahman, on 28th April.