- ECONOMIC IMPACT -

Latest update: 17 February

The IMF projects global economic growth at 5.5% for 2021 which is an upward revision from the 5.2% rise estimated in October 2020.

After weeks of gradual decline, GDP estimates for many countries have levelled off. Negative GDP growth is forecast in all countries except China.

-3.7%

Consensus forecast for world GDP growth in 2020

6.9%

Unemployment rate in OECD nations in December 2020

- SECTOR IMPACT: APPAREL -

Latest update: 3 March

Garment manufacturers remain hardest hit by Covid-19

Garment manufacturing remains one of the sectors most severely affected by fallout from the coronavirus pandemic, with new research suggesting 86% of businesses have seen a drop in orders.

The research, 'The Impact of Covid-19 on Suppliers,' is based on data compiled by responsible sourcing platform Sedex, and correlates with industry reports highlighting unpaid wages, cancelled orders, and millions of workers sent home without severance or furlough pay.

Findings also show that businesses further down supply chains and their workers, particularly casual, migrant and female workers, are often more vulnerable to – and hardest hit by – both the financial and health impacts of Covid-19.

More than 350,000 jobs lost in Bangladesh

More than 350,000 workers in Bangladesh's ready-made garment industry have lost their jobs between January and September 2020, with many workers laid off without proper compensation. A report by the Centre of Policy Dialogue (CFD) says more than one-third of a million garment workers – 357,000 people – were laid off, representing about 13.9% of total employment in the sector.

Calls to add US port workers to vaccine priority list

Unprecedented levels of congestion at US ports have prompted calls for essential US port workers to be prioritised during the rollout of the coronavirus vaccine to protec0t vital supply chains. Logistics bottlenecks continue to pose major problems for clothing supply chains, with delays exacerbated by severe worker shortages due to Covid-19 outbreaks among port workers.

Myanmar garment worker support fund doubled

Unprecedented levels of congestion at US ports have prompted calls for essential US port workers to be prioritised during the rollout of the coronavirus vaccine to protect vital supply chains. Logistics bottlenecks continue to pose major problems for clothing supply chains, with delays exacerbated by severe worker shortages due to Covid-19 outbreaks among port workers.

Lao garment workers to receive emergency cash

The German Federal Ministry for Economic Cooperation and Development (BMZ) is funding one-time cash transfers totalling US$1.8m to help 17,000 garment workers in Lao PDR. The workers will each receive LAK900,000 (US$100), which will help mitigate lost income and support business continuity during the Covid-19 pandemic.

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