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Bangladesh’s economy slowly recovering

The Bangladeshi economy has been exhibiting some signs of revival, according to the Metropolitan Chamber of Commerce and Industry (MCCI). A report titled ‘Review of Economic Situation in Bangladesh October – December 2022 (Q2 of FY23) mentioned that Bangladesh’s robust economic recovery from the Covid-19 pandemic has been interrupted by the war in Russia-Ukraine, resultant supply-chain disruptions, global oil-and food-price spikes, the slowdown in external demand, weak remittance inflow, rise in inflation, negative current account balance, depreciation of the Taka and a decline in foreign exchange reserves.

According to BSS, the economy started to show some signs of improvement in the reviewed quarter (Q2 of FY23). Export revenue has aided the recovery of the economy. The industries of steel, food processing, jute, leather, and plastic that are focused on domestic markets and export markets, respectively, are operating at full capacity.

However, the import payments and inward remittances fell, which had a domino impact on other economic sectors. Although it is on a worse trajectory, foreign currency reserves are still in a reasonably decent position. The overall inflation rate reached 9.52 percent in August before steadily declining to 8.71 percent in December 2022. Long stable, the exchange rate declined substantially in terms of the US dollar in December 2022.





Source for more details:

Financial Express


Source for more details:

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Source for more insights:

The Business Standard

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Source for more insights:

The Business Post


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