Import-Export Trade Declines Through Chittagong Port – Share Business

Saiful Alam, Chittagong: In the post-Corona era, there was a dollar crisis in the country due to the war between Ukraine and Russia. The dollar exchange rate has risen. As a result, all types of the country’s import trade have declined for various reasons, in addition to controlling the import of various products, including luxury goods in reserve. On the other hand, the recession in Europe has also reduced exports. Such a photo has been seen for the past two months. If this trend continues, the speed of the import-export trade will decrease further.

According to sources from the Port Authority of Chittagong, 1 lakh 1 thousand 493 TEUS containers of imported goods were transhipped in the port of Chittagong last September. Last August, 1 lakh 14 thousand 920 TEUS containers of goods were imported into the port. The number of containers loaded with imported goods fell by 13 thousand 427 TEUS or 11.68 percent in one month. And in the month of September 2021, the container throughput amounted to 1 lakh 20 thousand 470 TEUS. Container throughput fell by 18,977 TEUS or about 16 percent in one year. Like imports, the export sector has also been negatively affected. In the recently concluded month of September, 63 thousand 803 TEUS containers of goods were exported through the port of Chittagong. A month ago in August, 75 thousand 697 TEUS containers of goods were exported. The number of containers loaded with export goods decreased by 11 thousand 894 TEUS or 16 percent during the month. And in September 2021, 68 thousand 891 TEUS container products were exported.

Those involved in import and export trade say the world economy is fragile. For various reasons, including the war between Ukraine and Russia, a dollar crisis has arisen in several countries of the world. Due to this crisis, the demand for global products is also declining. In this, the prices of various products, including oil, steel, also fall. In addition, shipping rates are also falling. In general, there was a collapse of international trade. It has also affected Bangladesh. The country’s economy has had a negative impact as import-export trade is less than normal.

Kamal Uddin Ahmed, an importer of old ships, told ShareBiz that since June, imports of old ships have fallen by 60 percent from the normal period due to the dollar crisis. And the price of scrap has fallen sharply on the international market. In our country, too, 50 thousand taka is sold per ton, compared to 60 thousand taka two months ago. Prices are falling mainly due to a lack of demand for scrap in steel mills. If this continues, it will be difficult to survive in business.

When asked about the reason for the decline in container throughput, Chittagong Port Secretary Omar Farooq told Sharebiz that imports of containerized goods through the Port of Chittagong are declining. In contrast, the import of open goods is increasing. In short, there is a crisis in international trade, which is reducing imports. In this case, if the world economy does not improve along with the war situation between Russia and Ukraine, this crisis may increase.

Mohammad Mohiuddin, importer of the Khatunganj area and general secretary of the Khatunganj Artaddar Business Association, said that due to the unstable international situation and the unbalanced dollar exchange rate, imports have fallen more than before in the past three months. As a result, the product inventory decreases. It increases the price of goods. Because the decision to import has become complicated. Banks take dollar rates as they please. This has increased costs by 20%. And rising fuel prices have exacerbated the crisis. Everything has become very slow.

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