Recent resurgence of Covid-19 cases in India and the political crisis in Myanmar have prompted export orders to Bangladesh. Bangladesh’s strict handling of the Covid-19 crisis, namely thanks to a nationwide partial transport lockdown and political stability are attracting international retailers and brands during these difficult times.
Merchandise exports rebounded in March and earnings have risen six times year-on-year to hit $3.13 billion in April. These figures can in part be explained by the loosening of lockdown measures in the US and European countries.
Nevertheless, it would seem that work orders are shifting. In the case of Myanmar, political tensions and humanitarian concerns explain that some retailers and brands have decided to relocate.
It is however unclear whether these shifts will be permanent. Depending on how the situation evolves in both countries these measures might only be temporary to ensure business continuity.
Time is required to truthfully evaluate the impact the current events might have on the economy of Bangladesh.