Trade via Ctg port falls amid coronavirus fallout
The coronavirus pandemic that is sweeping the world has taken a heavy toll on Bangladesh's foreign trade through Chattogram port.
Import of bulk and containerised cargo fell 13.75 per cent to 87.97 lakh tonnes in February compared to January, according to data from the Chittagong Port Authority.
Around 5.42 lakh tonnes of bulk and containerised cargo were sent abroad in February via the port, a drop by 14.6 per cent from the previous month.
The number of vessels waiting at the outer anchorage has also decreased: Five container vessels were found waiting for berth yesterday while the figure was 11 on January 15.
Bangladesh imports most of its garment raw materials from China but trade with the country fell drastically since the outbreak of the virus one and a half months ago.
Most of the garment exporters kept their factories up and running with the old stock of raw materials, said Nasir Uddin Chowdhury, chairman of the standing committee on port and shipping of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
They had to reduce the daily production time by 6 to 10 hours or keep a portion of the production line shut, he said. "Many small factories may have to close production if the situation does not improve soon."
The outbreak of Covid-19 in the European countries is also a matter of concern, as they are the largest consumers of Bangladeshi apparel, he said.
"Some European buyers have already stopped placing new orders."
Representatives of many European buyers have already started postponing their preparatory meetings on sample or design approvals for the export orders of September and October, said MA Salam, first vice president of the BGMEA.
Chinese factories are gradually resuming their production and may start sending raw materials to some extent by this week, and the goods would take 20 to 25 days to reach Bangladesh, Chowdhury said.
However, Salam is less concerned about the arrival of raw materials from China. "Many Chinese suppliers have started taking orders for raw materials."
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