Almost third of Bangladesh textile enterprises shut
Almost 900 out of 3,000 large ready-to-wear factories have closed in Bangladesh due to the massive anti-government protests and severe flooding that took place in the country in July and August, TASS reports
The Business Standard newspaper reported that the enterprises stopped working amid the peak season of clothing supplies for the upcoming Christmas holidays and the acceptance of orders for the next season, which dropped by 10-15 percent
According to the Bangladesh Textile Mills Association, the losses of the garment industry are expected to reach $58m. Because of this, the level of clothing exports amounting to $45bn may not be reached this year.
It is noted that the textile and clothing industry accounts for over 80 percent of Bangladesh’s total export revenue and about 11 percent of the country’s GDP, employing almost 19 million people.
