Five months after the Corona crisis, confidence among traders is returning to business in the country. Last April-June, those who were worried about the future of their own business started to cut their fears. However, confidence has not increased at a massive rate yet. However, the confidence to attract big investments or to make a big leap in exports has not returned yet.
The South Asian Network on Economic Modeling (SANEM), a private research institute, has conducted research on the confidence of traders. The study was conducted on the basis of answering various telephone questions from senior officials of 303 small and large businesses. They were asked for their opinion on July 15-23, 2020. The results of the study were released last Saturday (August 8, 2020). There has been talk of regaining the confidence of traders.
According to the results of the study, the kind of distrust that existed among traders last April-June has now increased somewhat. The level of confidence is 51.06 percent. In the method of determining the level of confidence, 50 percent has been caught – there has been no change in the confidence. If it is less, confidence has decreased, if it is more, confidence has increased.
Let’s see how the traders had confidence in April-June after the start of Corona. SANEM says at that time, the confidence of traders was much lower than in the previous three months (January-March). At that time the confidence was 29.48 percent. Compared to April-June 2019, confidence has decreased by 26.44 percent in the same period of 2020. This means that the corona outbreak has caused a huge rift in the confidence of traders during the three months from April to June this year. But the situation is changing now. Last July-September quarter, it has increased than before.
On August 8, 2020, SANEM hosted an online discussion or webinar on the results of the study. Commerce Minister Tipu Munshi, Prime Minister’s Economic Adviser Moshiur Rahman and other business leaders were present. SANEM Executive Director Selim Raihan highlighted the results of the study.