Movement of import and export-laden containers through the Chattogram port in October was lower both year-on-year and compared to that in the previous two months, reflecting a gradual slowdown in foreign trade amidst global economic downtrends.
The coast of Mirsharai, an upazila in the southeast division of Chattogram, wakes up in the morning to the sounds of under-construction factories, and machines of several newly-built plants on a vast part of the region.
Bangladesh’s steel industry is set to see the entry of a couple of large business houses while several existing steelworks are looking to expand their capacities in order to gain from the rising demand for the key construction material.
The privately-owned BM Container Depot yesterday resumed handling export cargoes, albeit on a limited scale, after receiving permission from the customs authority to handle only garment shipments for the next three months.
The steel manufacturing plants in Bangladesh are less polluting and the lowest carbon emitters compared to the largest producers globally, mainly for the melting process followed locally and the efficient consumption of energy and water, said a top industrialist.
Import and export of containerised cargo through the country’s premier seaport in Chattogram fell in the first quarter of the current fiscal year compared to that last year, indicating a slowdown in foreign trade resulting from global economic downtrends.
The revenue collection growth decelerated to 12.63 per cent in Bangladesh in the first quarter of the current fiscal year, driven by the cost-of-living crisis at home and abroad, narrowing the fiscal space for the government, official figures showed.
The government should allow freight forwarders to set up and run bonded warehouse facilities with a view to handling export and import cargoes smoothly, said Bangladesh Freight Forwarders Association (BAFFA) Vice President Khairul Alam Suzan.