Buyers cancel orders worth $2.87 billion: BGMEA

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday said buyers have so far cancelled orders worth US$ 2.87 billion following the outbreak of coronavirus, reports UNB.

About 1,041 factories reported 906.68 million pieces worth 2.87 billion export have either been cancelled or held up until 5:00pm on Monday, according to BGMEA sources.

This cancellation will affect approximately 2.08 million Bangladeshi workers, the sources said.

Earlier on 23 March, BGMEA president Rubana Huq said buyers so far cancelled orders worth US$ 1.48 billion.

On a video message she said "We're facing a dire situation. All the buyers from different places, countries and continents are suspending the orders."

Citing entries of 1,089 garment factories to their website, the BGMEA chief said 873.2 million orders have so far been cancelled.

She also said there are 1.2 million workers in those factories.