Bangladesh Post-Uprising Economic Downturn

Bangladesh is experiencing significant economic pain and political turmoil following a 2024 uprising that toppled Sheikh Hasina's autocratic government. The country has seen 240 factories, primarily in the textile industry, shut down, leading to widespread job losses and a decline in merchandise exports. Unemployment has risen to 4.63 percent, and private-sector credit has hit a historic low. While foreign reserves have increased and the banking sector shows signs of repair, structural problems persist. A trade deal with the United States scaled back tariffs on garment exports, but US orders remain static. The upcoming elections on February 12 are seen by many as a potential turning point, but economists warn that a quick fix is unlikely for the deep-seated issues.