I made the presentation for my university. I figured it would be a good idea to also share on Slide-share. Checkout the video presentation: https://youtu.be/y0iI9CInHvA #covid19 #economy #bangladesh

1. THE ECONOMIC
IMPACT OF COVID-19
in Bangladesh
Ariful Islam
ID: 201-15-13843

2. Covid-19
Bangladesh faces significant challenges in against COVID-19 as it is a densely
populated country and also houses of million stateless Rohingya refugees in
sprawling refugee camps that are conducive to the spread of epidemics. It also has
significant migrant populations living in Italy, a COVID-affected country.

3. Import
Bangladesh is heavily dependent on the Chinese market for raw material, capital
goods imports and substantial exports. Traders in Bangladesh are already feeling
the pinch as longer than expected shutdowns of Chinese factories because of the
coronavirus (covid-19) outbreak are having a big impact on the world’s second
largest economy and the global supply chain.

4. Garments Industry
The readymade garment (RMG) industry, which has been pivotal in the economic
growth of Bangladesh, is facing an uncertain future following the COVID-19
pandemic. The industry, which is the world’s second largest exporter of RMG, is
now staring at a loss of nearly $6 billion following the cancellation or suspension of
orders by its buyers.
The cancellation of orders was the result of the lack of demand from the US and
European markets, following the closure of hundreds of shops, owing to the
pandemic-centric lockdown.
Bangladesh makes his 80% of exports from garment and textile, there are nearly
4.1 million peoples works in this industry.

5. Transportation
The national shutdown, enforced as part of efforts to slow down the spread of
Covid-19, has led to widespread unemployment.
around 5-6 million workers like drivers of buses, trucks, covered vans, pickup vans,
three-wheelers and easy-bikes, and their helpers are engaged in the transport
sector of the country.
The ride-sharing services (Pathao and Uber) also shut down for the same reason.
Many peoples just started their career on this new platform, they are going to face
a miserable hard time.

6. Education Institutions
In March, Bangladesh closed all of its educational institutions in order to
handle the spread of COVID-19. In late April, Bangladesh prime minister
Sheikh Hasina announced that all the educational institutions in the country
might remain closed until September if the situation did not improve. She
also said that all the educational institutions will open only after the situation
improves.
Students doesn't impact the economic of Bangladesh directly but they play a
huge roll by consuming goods and services.

7. Rental Property Business
With all the educational institutions are closed and lots of people losing their jobs,
everyone is leaving the city and returning to the village.
Also during this pandemic lots of small business, shops, restaurants and hotels are
shutdown.
It will be a massive hit on the rental property business.

8. Remittance
The economic importance of the more than 10 million migrants from Bangladesh
who sent close to $18 billion in 2019 cannot be overstated. International
remittances normally represent around 7% of Bangladesh’s GDP. But the COVID-19
pandemic is having an acute effect on Bangladeshi migrants abroad, who are
largely concentrated in countries with strict lockdown measures.
World Bank estimates have projected that total remittances by migrant workers
from Bangladesh will fall to $14 billion for 2020 – around a 25% decrease from the
previous year.

9. Bangladesh GDP
Assuming this, in Asian Development Bank (ADB) hypothetical worst-case
scenario, Bangladesh can experience a 1.1% fall in GDP- equivalent to a loss of 3.02
billion USD of $300 billion-plus economy. Also, under this scenario, around 8.95
lakh Bangladeshis can lose their jobs. Some sectors in Bangladesh can expect more
damage than others. In the hypothetical worst-case scenario, the ‘Business, Trade,
and Public services’ sector stand to lose the highest- 1.141 billion USD. ‘Agriculture
& Mining’ can lose the second-highest amount to the tune of 638 million USD.
Following this ‘Hotels, Restaurants and Personal Services’ can incur losses of
around 509 million USD.

10. Bangladesh GDP
In ‘Light/Heavy Manufacturing, Utilities and Construction’ and ‘Transport’ sectors,
the corresponding estimated losses are 399 million USD and 333 million USD,
respectively. These effects are hardly surprising given our close trading relationship
with China.

11. Information Source
– Wikipedia
– MSN(Microsoft News)
– Daily Sun(News Paper)
– The Financial Express (News Paper)
– Dhaka Tribune (Online News)
– CNBC ( Global News)
– ORF (Observer Research Foundation)
– Forbes (Global Financial News)
– YouTube and some other’s news sources.