Bangladesh Could Lose 600,000 Jobs, Poverty May Rise: World Bank

The ongoing conflict in the Middle East is creating growing economic pressure on Bangladesh, with rising fuel prices, gas shortages and disruptions to industrial and fertilizer production.

The World Bank has warned that if the crisis continues, Bangladesh could face the risk of losing around 600,000 jobs. The number of people expected to move out of poverty this year could also fall significantly.

According to the World Bank’s assessment, around 1.7 million people could have escaped poverty in 2026 if there had been no conflict. However, that number may now fall to about 500,000.

Bangladesh is particularly vulnerable to disruptions in global energy markets because it relies heavily on imports. Around 60–65% of its imported crude oil and 55–60% of its LNG come from the Middle East. LNG prices have also more than doubled in the spot market, increasing pressure on the country’s energy sector.

The crisis is affecting industries, agriculture and transportation, while higher fuel and fertilizer costs could push food prices higher. The World Bank has warned that prolonged supply disruptions could further hurt small farmers and increase poverty.

Economist Mustafizur Rahman said signs of the crisis are already visible, with some factories reducing working hours or shutting down due to fuel and gas shortages.