Impact of covid 19 on the rmg export scenario of bangladeshMosaibur Rahman
The study has made on descriptive research, is conducted to identify different dimension of Impact of Covid-19 on the RMG export scenario of Bangladesh. To come up with the result, researchers were not required to visit the factory. For this reason, researchers have ignored the direct data collection and surveys. Consequently, the research technique has relied based on information from secondary sources. Those data collected through Journals, Research articles, Thesis papers, newspapers case studies, online news paper and survey reports, garments Manufacturing Industries Annual reports, BGMEA Yearly report and Files. The data was collected basically through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information.
The readymade garments industry acts as the backbone of our economy and as a catalyst for the development of our country. We take pride in the sector that has been fetching billions of dollars as export earnings and creating jobs for millions of people in the country.
The “Made in Bangladesh” tag has also brought glory for Bangladesh, making it a prestigious brand across the globe. Bangladesh, which was once termed by cynics a “bottomless basket” has now become a “basket full of wonders.” The country with its limited resources has been maintaining 6% annual average GDP growth rate and has brought about remarkable social and human development.
Impact of covid 19 on the rmg export scenario of bangladeshMosaibur Rahman
The study has made on descriptive research, is conducted to identify different dimension of Impact of Covid-19 on the RMG export scenario of Bangladesh. To come up with the result, researchers were not required to visit the factory. For this reason, researchers have ignored the direct data collection and surveys. Consequently, the research technique has relied based on information from secondary sources. Those data collected through Journals, Research articles, Thesis papers, newspapers case studies, online news paper and survey reports, garments Manufacturing Industries Annual reports, BGMEA Yearly report and Files. The data was collected basically through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information.
The readymade garments industry acts as the backbone of our economy and as a catalyst for the development of our country. We take pride in the sector that has been fetching billions of dollars as export earnings and creating jobs for millions of people in the country.
The “Made in Bangladesh” tag has also brought glory for Bangladesh, making it a prestigious brand across the globe. Bangladesh, which was once termed by cynics a “bottomless basket” has now become a “basket full of wonders.” The country with its limited resources has been maintaining 6% annual average GDP growth rate and has brought about remarkable social and human development.
1950 was the beginning of RMG in the Western world. In order to control the level of imported RMG products from developing countries into developed countries, the Multi Fibre Agreement (MFA) was made in 1974. In the early 1980s Bangladesh started receiving investment in the RMG sector,then there was about 50 factories.At present more than 4000 garment factory available in Bangladesh.
RMG industry in Bangladesh has always been the country's backbone. Being the 3rd largest apparel exporter in the world after China and Vietnam, the South Asian apparel manufacturing powerhouse is showing good signs in its global apparel exports. Team Apparel Resources has prepared a presentation to let the readers everything know about Bangladesh's RMG industry.
The industry that has been making crucial contribution to rebuilding the country and its economy is none other than the Ready Made Garments (RMG) industry which is now the single biggest export earner for Bangladesh. The sector accounts for 81% of total export earnings of the country.
Impact of Covid-19 On The RMG Industry Of Bangladesh..pdfMd. Nazmul Haque
The COVID-19 pandemic has had a significant impact on the ready-made garment (RMG) industry in Bangladesh, which is one of the country's largest and most important sectors, accounting for around 80% of the country's exports and providing employment to over 4 million workers.
The impact of COVID-19 on the RMG industry of Bangladesh can be seen in the following ways:
Orders Cancellations: Many retailers and brands in the US and Europe canceled their orders or postponed them, leading to a severe drop in demand for Bangladeshi-made garments.
Supply Chain Disruptions: The pandemic has disrupted global supply chains, causing delays in the delivery of raw materials and finished products. This has caused significant challenges in meeting production deadlines and increased the cost of production.
Factory Closures: To contain the spread of the virus, many factories in Bangladesh had to temporarily shut down, causing significant financial losses for factory owners and job losses for workers.
Health and Safety Concerns: The pandemic has also raised concerns about the health and safety of workers in factories, leading to the need for additional safety measures and increased costs for factory owners.
Overall, the pandemic has had a severe impact on the RMG industry in Bangladesh, with many factories struggling to survive, and workers facing significant job losses and income reductions. The industry is gradually recovering from the initial shock, but it may take time to fully regain its pre-pandemic level of activity.
1950 was the beginning of RMG in the Western world. In order to control the level of imported RMG products from developing countries into developed countries, the Multi Fibre Agreement (MFA) was made in 1974. In the early 1980s Bangladesh started receiving investment in the RMG sector,then there was about 50 factories.At present more than 4000 garment factory available in Bangladesh.
RMG industry in Bangladesh has always been the country's backbone. Being the 3rd largest apparel exporter in the world after China and Vietnam, the South Asian apparel manufacturing powerhouse is showing good signs in its global apparel exports. Team Apparel Resources has prepared a presentation to let the readers everything know about Bangladesh's RMG industry.
The industry that has been making crucial contribution to rebuilding the country and its economy is none other than the Ready Made Garments (RMG) industry which is now the single biggest export earner for Bangladesh. The sector accounts for 81% of total export earnings of the country.
Impact of Covid-19 On The RMG Industry Of Bangladesh..pdfMd. Nazmul Haque
The COVID-19 pandemic has had a significant impact on the ready-made garment (RMG) industry in Bangladesh, which is one of the country's largest and most important sectors, accounting for around 80% of the country's exports and providing employment to over 4 million workers.
The impact of COVID-19 on the RMG industry of Bangladesh can be seen in the following ways:
Orders Cancellations: Many retailers and brands in the US and Europe canceled their orders or postponed them, leading to a severe drop in demand for Bangladeshi-made garments.
Supply Chain Disruptions: The pandemic has disrupted global supply chains, causing delays in the delivery of raw materials and finished products. This has caused significant challenges in meeting production deadlines and increased the cost of production.
Factory Closures: To contain the spread of the virus, many factories in Bangladesh had to temporarily shut down, causing significant financial losses for factory owners and job losses for workers.
Health and Safety Concerns: The pandemic has also raised concerns about the health and safety of workers in factories, leading to the need for additional safety measures and increased costs for factory owners.
Overall, the pandemic has had a severe impact on the RMG industry in Bangladesh, with many factories struggling to survive, and workers facing significant job losses and income reductions. The industry is gradually recovering from the initial shock, but it may take time to fully regain its pre-pandemic level of activity.
How are factory owners coping with the covid 19 effect on cancellation of RMG...Ashik Nobi
The study has made on descriptive research, is conducted to identify how are factory owners coping with the Covid-19 effect on cancellation of RMG export. To come up with the result, researchers were not required to visit the factory. For this reason,
researchers have ignored the direct data collection and surveys. Consequently, the
research technique has relied based on information from secondary sources. Those
data collected through Journals, Research articles, Thesis papers, newspapers case
studies, online news paper and survey reports, garments Manufacturing Industries
Annual reports, BGMEA Yearly report and Files. The data was collected basically
through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information
This presentation contains the positive and negative impacts regarding corona. I made it from various resources and wanted it share it publicly, so that others can also use it.
The impact of covid-19 in Bangladesh a case study on economic sectorShaksly Snail
The impact of covid-19 in Bangladesh a case study on economic sector
Our Team~
Leader
Shakila Ahmed
Members
Mahfuja Alam, Fatema Tuz Zohora, Juma Akter
Supervisor ~
Ashiqun Nabi
Assistant Professor, Department of
Business Administration
Manarat International University
The economic impact of covid 19 in bangladeshAriful Islam
I made the presentation for my university. I figured it would be a good idea to also share on Slide-share.
Checkout the video presentation: https://youtu.be/y0iI9CInHvA
#covid19 #economy #bangladesh
Self Reliant India Need, Pre and Post Pandemic scenarioJyotsna Prasad
This is a research paper about How India was before the covid 19 pandemic and how it would be after this ends. Where India Should be utilising its finances and how it should be managed to achieve the best.
Similar to Covid-19 and decline in export of Readymade Garments in Bangladesh (20)
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USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
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Covid-19 and decline in export of Readymade Garments in Bangladesh
1. 1 | P a g e
BGMEA University of Fashion & Technology
Assignment On: “Covid-19 and decline in export of ready-made
garments of Bangladesh.”
Submitted To
Md Abdur Rakib
Assistant Professor and Head
Department of Social Science
BGMEA University of Fashion & Technology
Submitted By
Iftakhar Hasan (192-010-111)
Umme Zeba (192-017-111)
SM Mashriq Newaz (192-018-111)
Md. Forhad Hossen (192-019-111)
Course title: Industrial Psychology
Course code: AMM3105
Batch: 192
Section: 01
Department of Apparel Merchandising and Management (AMM)
BGMEA University of Fashion & Technology (BUFT)
Date of Submission: 08 December, 2021
2. 2 | P a g e
Index
Serial
NO.
Topic Name Page number
1. Introduction 03
2. Literature Review 04
3. Methodology 05
4. Result and Discussion 05-11
5. Recommendations 12
6. Conclusion 12
7. References 13-14
3. 3 | P a g e
Introduction
Bangladesh is an emerging economy in the world. The readymade garment industry is the
top ambassador of Bangladesh in the global market. Ready-made garments are mass-
produced finished textile products of the clothing industry. Export earnings of Bangladesh
are heavily contributed by the RMG sector from early 90’s and started its journey in the late
70’s (Dhaka Tribune,2014). It is worth of 32.92 billion US$ and captures 84.21% of the
country’s export earnings in 2018-2019. 4.5 million workers are directly employed in RMG
sector and 80% of them are women (BGMEA,2021). RMG sector has a great contribution to
our economy. Millions of people are working in this sector and earning foreign currency for
the country. Over the last few years, a new method has been incorporated in this sector that
is Industrial Engineering (I.E) and Lean Manufacturing. The aim is to improve the productivity
by satisfying the customer. Bangladesh is a developing country with remarkable economic
growth (growing around 7% average growth rate last 10 years) (Islam,2020). Readymade
garments (RMG) sector is undoubtedly a leading one contributing a lot to the national
economy of Bangladesh. Presently the national economy of Bangladesh is largely dependent
on RMG which is the country’s largest manufacturing wing having 11.2% GDP contribution
and 36% manufacturing employment. 6.5% global market share has made it world second
biggest exporting industry while China is first (Islam,2020). The recent COVID-19 pandemic
has caused colossal damage in this emerging South Asian nation most notably in economy,
public health and social well-being in Bangladesh. during the pandemic while many
shipments and orders have become cancelled or postponed due to the COVID 19 pandemic
it has a bad impact on our economy. Since the inception of COVID-19 pandemic order for
RMG products worth 3.18 billion USD have been cancelled and 2.28 million workers have lost
job (BGMEA,2021).
4. 4 | P a g e
Literature Review
Since the outburst of Covid-19 in China, the world economy is passing in a turmoil situation,
Bangladesh is not out of this. The economy of Bangladesh is dependent on Readymade
garments sector. More than 80 percentages of its total export are dependent on this sector
and women worker make a big impact on this sector (BGMEA). Rahman & Siddiqui (2015)
found during 2009-10 to 2013-14 contribution of women garments workers is remarkable
and gradually increasing to the economy of Bangladesh. Though in this pandemic they are
the most vulnerable (The Daily Star). Shuvro sen (2020) The main sources of raw materials in
garments & apparel industry are China. China was the first country where the Covid-19 was
first attacked. So, the raw materials were not come at the needed time. Because of the
continuous COVID-19 pandemic the readymade garments industry is experiencing
production postponement, cancellation of orders and these are resulting losing jobs, pay cut,
employees health related complexities and many more problems. Shimanta (2020) has fond
that Government has showed priority importance to save the industry. Begum, at el. (2020)
studied that negative impact of COVID-19 pandemic on the socioeconomic factors of
Bangladesh and stated that although education, agro industries, medicine industry and
financial sector have become affected the RMG sector has experienced more detrimental
effect of it and collaborative steps by private and public sectors may work to mitigate the
recession. Since the inception of COVID-19 pandemic order for RMG products worth 3.18
billion USD have been cancelled and 2.28 million workers have lost job, Khan (2020).
Bhattacharjee (2020) on his report shown that the world second largest RMG industry which
has been contributing a lot for the economic development of Bangladesh has faced uncertain
future amid COVID-19 pandemic with an estimated loss of USD 6 billion due to cancellation
of products orders from foreign buyers.
5. 5 | P a g e
Methodology
COVID-19 global pandemic situation is updating every day. So, the study is based on
secondary information. Reported Information is collected from different authentic journals,
newspapers, web portals, policy experts, press releases, media reports and so on. The study
is a brief on the scenario of economical down fall of garments related organizations in
Bangladesh affected by the pandemic. The internet is a major source for data collection and
review of literature. There is no quantitative but qualitative prediction is given based on the
data collected.
Result and Discussion
COVID-19 has bad impact on the global economy. Due to this time Many countries have
enforced lockdown. The apparel sector has to bear the shock of the ongoing coronavirus
outbreak. The disruption started from January 2020 when China, the home of a lot of raw
material imports, restricted export due to the pandemic effects. The apparel industry in
Bangladesh was in operation with around two-month raw material inventory storage.
However, since the beginning of March most of the buyers were gradually canceling their
orders as well as postponing the on-going production, especially those from the COVID-19
infected western countries. Mentionable European brands like Primark, Inditex and H&M as
well as major retailers from North America, such as Nike, Columbia Sportswear and GAP, have
already shut down their outlet due to countrywide lockdown (FEAR WEAR, 2020). Hence,
orders were being canceled and finished products were not being shipped through either
ship or air. Factories and the workforce are under threat of existence. As of the end of April
2020, the loss of order cancellation was $3.16 billion, while the canceled volume of shipment
amounted 979 million pieces (BGMEA, 2020). At least 1,140 factories with more than 2.25
million workers are struggling to cope or survive (BGMEA, 2020). The crisis threatens to
unravel years of progress in economic development, with the IMF projecting that the rate of
GDP growth in Bangladesh will reduce significantly from an impressive 8.2 per cent that had
been predicted for 2020 before the crisis and there is a clear risk of a recession. Bangladesh’s
recent economic success has largely been reliant on the growth of industry – predominantly
the ready-made garments (RMG) sector. The global nature of the COVID-19 crisis threatens
to cause significant harm to this sector and reverse these impressive economic gains. Without
an appropriate intervention to stimulate spending and protect jobs, the economy is likely to
regress and lose its hard-earned position as the country with the highest growth rates in the
Asia-Pacific region. Bangladesh's RMG sector started facing obstacles by posting nationwide
lockdown, fall of global economic trade and buyer's order cancellation. According to the
Bangladesh Garment Manufacturers and Exporters Association (BGMEA), over 900 million
pieces of garments order worth $ 2.9 billion had already been cancelled or were being held
6. 6 | P a g e
up in April, 2020. The Bangladesh Knitwear Manufacturers and Exporters Association
(BKMEA), claimed until July 2020, more than $ 3 billion orders had been cancelled or
suspended.
Source of this data is from Statista (2020).
Readymade garment exports from Bangladesh declined by 3.73 per cent in the first eight
months of fiscal 2020-21 compared on year-on-year basis, according to data from the Export
Promotion Bureau, Bangladesh. In the fiscal ending June 30, 2020, readymade garment
exports from Bangladesh declined 18.12 per cent to $27.949 billion compared to exports of
$34.133 billion in the previous fiscal, mainly on account of COVID-19 pandemic and
lockdowns.
7. 7 | P a g e
From this data (BGMEA), it is clear that Bangladesh garments industry is moving forward but
covid-19 pandemic made a bad impact on this industry and countries export. Here 2015-16
to 2018-19 fiscal year the progression is up word. In 2019-20 fiscal year the growth is falling
down 27949.19 mil 33674.09 mil to because of international buyer are canceling their order
and garments are stop their production. That’s why the export of Bangladesh is declining. But
in 2020-21 fiscal year recovery is on going and export is upward.
28094.16
28149.84
30614.76
34133.27
27949.19
31456.73
34257.18
34655.9
36668.17
40535.04
33674.09
38758.31
2015 - 16 2016 - 17 2017 - 18 2018 - 19 2019 - 20 2020 - 21
TOTAL EXPORT AND CONTRUBITUON OF RMG
Export of RMG Total Export of Bangladesh
Year Export of RMG
(Value in Million USD)
Total Export of Bangladesh
(Value in Million USD)
2015-16 28094.16 34257.18
2016-17 28149.84 34655.9
2017-18 30614.76 36668.17
2018-19 34133.27 40535.04
2019-20 27949.19 33674.09
2020-21 31456.73 38758.31
The source of the data is from BGMEA
8. 8 | P a g e
Year Trousers
(Value in
Million USD)
T-Shirts &
Knitted
shirts
(Value in
Million USD)
Sweaters
(Value in
Million USD)
Shirts &
Blouses
(Value in
Million USD)
Underwear
(Value in Million
USD)
2015-16 10167.31 6892.8 3182.47 3076.36 1172.74
2016-17 9943.09 6650.51 3361.53 2918.97 1328.5
2017-18 10833.83 7153.84 3674.7 2927.34 1410.7
2018-19 11754.86 7902.27 4255.91 3190.23 1640.36
2019-20 9362.64 6273.77 3597.68 2449.65 1358.72
The source of the data is from BGMEA
The main export item of RMG is Trousers, T-Shirt, Sweaters, Shirt and under garments. The
data (BGMEA) give a crystal-clear idea about Main Apparel Items Export from Bangladesh.
Though the amount of export is increasing year by year from 2015-16 to 2018-19 but covid
pandemic decrease the amount of export which we can see from the graph. In 2019-20 fiscal
year every Item of export is not up to the mark from its previous year. During covid-19
production is almost stop because of lock down that’s why the ratio of export is falling down.
10167.31
9943.09
10833.83
11754.86
9362.64
6892.8
6650.51
7153.84
7902.27
6273.77
3182.47
3361.53
3674.7
4255.91
3597.68
3076.36
2918.97
2927.34
3190.23
2449.65
1172.74
1328.5
1410.7
1640.36
1358.72
2015 - 16 2016 - 17 2017 - 18 2018 - 19 2019 - 20
MAIN APPAREL ITEMS EXPORTED FROM
BANGLADESH
Trousers T-Shirts & Knitted shirts Sweaters Shirts & Blouses Underwear
9. 9 | P a g e
Month (2020-21) Bangladesh
(Value in Million USD)
Vietnam
(Value in Million USD)
January 3.04 1.47
February 2.78 2.23
March 2.26 2.34
April 0.37 1.61
May 1.23 1.92
June 2.24 2.62
Source: Dhaka Tribune (August,2020)
During the pandemic Vietnam overtook Bangladesh in the global apparel market and became
the second-largest global ready-made garment (RMG) exporter. According to the World
Trade Statistical Review 2021 released by World Trade Organization (WTO), Bangladesh’s
share in the global apparel market dropped to 6.3% in 2020 from 6.8% a year earlier. The
market value for Bangladesh was $28 billion in the year 2020. Meanwhile, the share of
Vietnam in global RMG exports stood at 6.4% in 2020, up from 6.2% a year earlier. Vietnam’s
market value stood at $29 billion at the end of 2020. Bangladesh regains their second position
earlier 2021. Though the data show the pick time of the pandemic where Vietnam
outperform Bangladesh.
0
0.5
1
1.5
2
2.5
3
3.5
January February March April May June
Bangladesh blamed Covid-19 pandemic for falling behind
Vietnam
Bangladesh Vietnam
10. 10 | P a g e
Year Woven (Value in Million USD) Knit (Value in Million USD)
2016 14931.33 13736.95
2017 14673.99 14538.94
2018 16681.04 16245.84
2019 16630.64 16441.74
2020 13242.36 14228.37
The source of the data is from BGMEA
From 2016 to 2019, woven and knit garments progressing equally in this meaner. From
woven which was (14931.33 to 16630.64) mill and from knit it was (13736.95 to 16441.74)
mill but in 2020 fiscal year it shows different scenario because of the pandemic. Most of the
Woven Factory are dependent for its raw materials to other countries because in Bangladesh
backward linkage industries are not capable to produce as much as it’s need. China is the
largest distributer of suppling the raw material but during this pandemic China impose lock
down that’s why woven garments exports are not reach to its previous year. On the other
hand, Bangladesh has a lot of backward linkage industries for knit product that’s why the
production of knit and export are higher than woven garments.
14931.33
14673.99
16681.04
16630.64
13242.36
13736.95
14538.94
16245.84
16441.74
14228.37
2016 2017 2018 2019 2020
EXPORT OF WOVEN AND KNIT FROM 2016 TO
2020 Woven Knit
11. 11 | P a g e
Country 2018 2019 2020 Growth in
2020
USA 5844.36 6020.36 5067.44 -15.83%
Italy 1497.55 1432.55 1120.96 -21.75%
Netherlands 986.93 1004.07 913.68 -9.00%
Denmark 698.66 695.65 692.11 -0.51%
U.K. 3748.34 3836.76 3096.32 -19.30%
France 1964.06 1987.83 1533.05 -22.88%
Germany 5871.11 5535.58 4892.44 -11.62%
The source of the data is from BGMEA
From this table and column, it’s given a solid idea about deficit of ready-made garments
export by its previous year. Mainly it is happened because of low production and its supply
chain. Bangladesh garments industry trying to regain its position by improving environment
and safety measures.
5844.36
6020.36
5067.44
1497.55
1432.55
1120.96
986.93
1004.07
913.68
698.66
695.65
692.11
3748.34
3836.76
3096.32
1964.06
1987.83
1533.05
5871.11
5535.58
4892.44
2018 2019 2020
TRADIATIONAL EXPORT MARKET OF RMG
USA Italy Netherlands Denmark U.K. France Germany
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Recommendation
1. More Backward linkage Industry have to be stablished for maintain the supply chain
of this Ready-made garments sector.
2. Health Care and hygiene facilities should be increase in garments, Worker should be
monitor, are they facing any problem or syndromes like covid. If they face anything
like that they have to test and isolate them from other.
3. Government should give incentive to recovery from this situation.
4. Reduce the lead time and raw material should be produce in own country.
5. We should diversify our product for more export.
6. Bank should give lone at low interest rate to recovery from this situation.
7. In this hard time stakeholder should look forward to new market to export their
product.
Conclusion
The outbreak of Coronavirus and its impact on the garment sectors of Bangladesh has been
stated and this pandemic has profoundly hit the global supply chain and demand for the
entire garments industry. Top exporters like Bangladesh have begun feeling the warmth
because of raw material sourcing difficulties and dropped orders. Bangladesh has taken some
immediate measures guided by the World Trade Organization (WTO), International Labor
Organization (ILO), Global health Communities, BGMEA especially to break the chain of
transmission and over come from this situation to export more. Hence it can be concluded
that Garment production is crucial for Economic revival but care must be taken to ensure that
the health and safety of the workers are not compromised by the authorities concerned.
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Reference
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