An Overview of the Economic Situation of Bangladesh during the Pandemic Caused by COVID-19

Abstract

Like other countries in the world Bangladesh has been immeasurably being affected by the longest coronavirus pandemic ever seen by the world. Corona has given a very deep stripped in every sector of the economy of Bangladesh, could largely contributed to the economy as well as of the society. However, it is not that only the economic condition was declined in rather the impact of the new normal was diversified in the different sectors. Economic sectors, Specially RMG, garments, export-import oriented business were largely affected by the pandemic because of the high dependency of the external buyers and resources, either the sector was manufacturing or merchandising. In this new normal age, the small and medium enterprise (SME), lower capital entrepreneur and as well as the banking sector, service industry were also highly disrupted. In exception a milestone role played our wage earners heroes who sent remittances with record amount Bangladesh. Simultaneously, in this situation, the ecommerce platform, IT industry, virtual world and mobile financial services (MFS) have introduced a positive impact on our economy. So, pandemic challenge has come with new learning, new concept and new phenomena for new economy that can be defensed and conquered by giving a huge effort of every individual, organization as well as the keen integration of the state government.

Keywords: Coronavirus, Economic condition, COVID-19, Export-Import, Entrepreneur FDI, MFS, New normal age, Pandemic Situation.

DOI: 10.7176/EJBM/14-2-03

Publication date: January 31^st 2022