Chittagong Port, Bangladesh’s primary hub for maritime trade, reported a notable increase in the handling of imported cargo containers in October 2024. In contrast, the handling of export containers experienced a significant decline during the same period.
According to port officials, a total of 120,225 twenty-foot equivalent units (TEUs) of imported cargo containers were processed, reflecting an increase of 1,823 TEUs, or 2.34 percent, compared to September. Conversely, the export sector faced challenges, with the number of export containers handled decreasing by 13 percent, from 75,603 TEUs in September to 66,932 TEUs in October.
Traders attribute the drop in exports to ongoing political fluctuations and an uncertain economic environment, which have adversely affected the apparel sector. Despite expectations for a surge in exports during the Christmas season—a peak shipping period for Europe and America—these anticipated gains have not materialized.
Additionally, reduced operations at private depots, where containers are prepared for international shipment, highlight the decline in export activity. Ruhul Amin Sikder, Secretary General of the Bangladesh Inland Container Depot Association, noted that many export shipments delayed due to anti-discrimination rallies and related disruptions in July were finally dispatched in September. However, the trend of decreasing shipments continued into October.
Sikder emphasized the critical role that imports play in Bangladesh’s export performance, particularly in the ready-made clothing sector, which relies heavily on imported raw materials. Importers currently face significant challenges stemming from a currency crisis, complications in processing letters of credit, and issues within the banking industry, all of which negatively affect export volumes and container handling.
Stakeholders remain hopeful for a recovery in the coming months as global demand improves and the port navigates these obstacles.
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