The Bangladesh economy, facing persistent pressure for over three years due to the Covid-19 pandemic and the Russia-Ukraine war, has encountered a new wave of challenges. The combination of these global events led to a dramatic rise in commodity prices and a 35% devaluation of the taka.
Despite the adverse impacts of the Covid-19 pandemic, Bangladesh's annual steel production remained steady at 5.5 million tonnes in both 2021 and 2020.