{"id":2413,"date":"2020-05-08T13:31:52","date_gmt":"2020-05-08T08:01:52","guid":{"rendered":"http:\/\/172.105.37.82\/?p=2413"},"modified":"2020-05-08T13:31:52","modified_gmt":"2020-05-08T08:01:52","slug":"the-catastrophic-impact-of-covid-19-on-asian-garment-industry","status":"publish","type":"post","link":"https:\/\/indiacityblog.com\/retail\/the-catastrophic-impact-of-covid-19-on-asian-garment-industry-2413\/","title":{"rendered":"The catastrophic impact of COVID-19 on Asian garment industry"},"content":{"rendered":"\r\n
The coronavirus pandemic has taken a toll on the entire world and is jeopardising the world economy in irreparable trajectories. Moreover, it is wreaking havoc on the biggest exporters of garments in the world.\u00a0<\/p>\r\n
The global supply chain network pulled out a huge chunk of Asian natives from the vicious circle of poverty throughout these years. It enabled people to not just earn the daily bread but to enjoy a proper meal. The job of garment manufacturing was the sole source of income for multiple families residing in the region. However, the global apparel industry stands at stakes today. The pandemic which has disrupted the entire apparel and textile ecosystem has cast a dark shadow on the fashion world.<\/p>\r\n
The months-long lockdown and halt in business operations contribute to the current situation of the garment industry, pushing thousands of people into destitution. Two wide reasons are to be entirely blamed for the same. Firstly, as the disease broke out in the Chinese city of Wuhan, the export of textiles was severely disturbed as the country stopped its operations. China, which is the leading exporter of textiles with a value of $250 billion, stopped its supplies to the Asian countries, following the halt in production. Finally, when the Chinese were ready to resume export, the plunging demand and the preventive lockdowns in countries like the U.S and Europe lead to the longevity of the production halt.<\/p>\r\n
The situation is worsening day by day as apparel goes out of the customer\u2019s shopping list because they focus more on buying staples in these testing times. The changing consumer buying patterns are going take an enormous dig at the Asian garment factories, especially the daily workers.<\/p>\r\n
Countries like Bangladesh, Vietnam, Myanmar, and Indonesia are to bear the maximum brunt. These countries rely heavily on apparel export, which accounts for 80-90% of their total export business. Bangladesh, which is the leading exporter to Europe, and the U.S is believed to lose $6 billion in apparel export revenue. Furthermore, only a handful of the big fashion brands, which these countries supply to, are coming forward to help them.<\/p>\r\n