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Browsing: Retail stores
The fall in consumer demand and closure of retail stores in high income countries due to the COVID-19 pandemic negatively impacted the textile and garment manufacturers in Ethiopia.
This is according to a new report by Deloitte that found that the manufacturing sector’s growth declined from 7.7 percent in 2019 to 7.5percent in 2020 mainly attributed to subdued demand in the key textile and garment sub-sector as a result of the closure of retail stores in high income countries.
A telephone survey by Deloitte found that 4,000 female garment workers revealed that four out of ten garment workers on Ethiopia’s flagship industrial park lost their jobs due to the COVID-19 pandemic in 2020.
The report also found that decline in capacity utilisation pushed firms in the industrial parks to re-invent their business models pivoting to manufacture of personal protective equipment (PPE).
However, a USD 6.5 million fund was set up …