COVID-19’s Effect on Energy Commodities :

The COVID-19 has caused gigantic negative effects on populace wellbeing, society, Education,
and the economy in the world. The driving force of economy is Energy. The requirement of the
energy is significantly reduce by the government due to COVID-19 in business activity. Most
people all over the world will be working from home therefore residential load for energy will
increase. Economic effect also happen in our utilities industries .Crude oil, gas, water,
Electricity all services included in utilities industry. They play major role in growth of economy.
In this pandemic many people died and many companies shut down there business. Because
many government decided to close offices for months shops for months. Some commodities
price got high as it can get. Industrial operation and business slowed down to ensure social
distancing due to the COVID-19 outbreak. The global stock market saw decrease of stock price
by more than 25%. Some utilities prices also went up because of slower production opposed to
high demand. To control the supply and demand retailers had to increase price. Water is very
important part of utility industry, which affects our economy greatly. Energy as well plays big
part in this Sector. Nearly 1.3 billion people in the world have no access to electricity, including
about one-quarter of the population of India. Utility industry is suffering from great loss
because in this pandemic, many people lost their job and they pay the bill late. Global
economy’s one of the big part is energy and oil. When every country suffer from COVID-19, to
support the people and business, the government has to support these sectors. They do that by
giving money from country reserve. So spending it on utilities sector to maintain it. Country
reserve is decreasing by this, which is hampering a steady economic growth.
Bangladesh is developing country. Its economy is rising, but due to COVID-19 the development
is slowing down. The outbreaks affect our many different sector of our economy. Firstly, most
factories and business has temporarily shut down which caused production to decline for
example- importing product from china was suspended. This type of problem can affect future
international relationship with other countries. Bangladesh will lose almost 9 billion GDP. It is
already carrying loss in energy sector.
E-Commerce Impact on Economy During COVID-19 :

Buying and selling of goods and services, or the transmitting of funds or data etc all includes in
E- commerce. In today’s World e-commerce play big role in growth of economy. One of the
main advantages e-commerce provide us time and effort, facilitates access to foreign markets,
helps economic growth and helps import and production. It creates challenges to national market.
Although it is online based platform it’s also struggling due to the pandemic outbreak .
E-commerce affects economic variables and growth rates. It leads to higher wages, higher
standards of living for individuals, structuring markets and expanding market, furthermore
increases sales, exports, production and growth rates. It contributes significantly to our GDP.
Moreover, it creates new opportunity in ICT sector. ICT also play important role in the
infrastructure of e commerce globally. Because it is online based and 90 percent companies say
their sale increased, but 5 percent companies are still in carrying loss due to lock down . In
pandemic companies changed their workforce. Forty-four percent say they had to move their
employee and 26% had to layoff some employees to cope with the situation. Almost 15-20% of
them had reduce their salary during the lock down, while surprisingly others were able to
increase their salary about 5%. Online profit margin is increased by about 38 percent and 15
percent say it decreased. E-commerce also sometimes need small investment in trade
service and business. Sell decrease because of high demand or shortage of supply. It did not
suffer big loses because of its online stores which spares people the fear of contracting the virus.
Moreover, most countries people in the world used to do bulk buying but their methods are
changing in lockdown. Subscription based E-services like Netflix, amazon , Tidal etc. saw huge
profit because most people spent their time at home in this situation. Global shopping in e-
commerce are in consumer

Most online selling happens due to lower price, accessibility and convenience. For past 20 years
online has expended a lot and there is verity of shopping option to choose from. If you do
business in many different way .In online there is also grey market that helps our economy. E-
commerce also helps our economy to spare in many category. Bangladeshi Startups have
attracted over USD 200 million in international venture capital. The most popular startup growth
sectors in Bangladesh are E-commerce, Logistics, Ridesharing, and Fintech but many of which
will not survive because very few people use these services compared to other countries.
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