Ctg port container movement falls in October

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. 

However, in case of export-laden containers over the last 10 months till October, it is higher while lower for import-laden ones.

According to data prepared by shipping lines, some 59,331 TEUs (twenty feet equivalent units) of export-laden containers were shipped through the port in October.

This was 7 per cent less than that in September. It was 75,697 TEUs in August.

In October last year, it was 70,270 TEUs.

A total of 694,176 TEUs of export-laden containers were shipped through the port in the last 10 months till October.

This is 10.46 per cent higher year-on-year.

A total of 11,55,868 TEUs of import-laden containers were unloaded at the port in the last 10 months till October.

It is a reduction of 3.81 per cent year-on-year.

The number of import-laden containers unloaded from vessels at the port also came down to 97,538 TEUs in October.

This was around 4 per cent less than that in September. It was 114,920 TEUs in August.

In October last year, 124,659 TEUs of import-laden containers had arrived.

Business leaders reasoned a gradual drop in export orders and government steps discouraging import of luxury goods.

The government took a good decision discouraging import of luxury items amidst the current economic scenario and that is why imports gradually decreased, said Chittagong Chamber of Commerce and Industry (CCCI) President Mahbubul Alam.

It reflects the global economic downtrend as global supply chains have been facing disruptions since the Russia-Ukraine war started in earlier this year, he said.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Vice President Rakibul Alam, however, said garment shipments fell in last couple of months as consumers in export destinations have reduced purchases due to inflation and economic instability.

Due to lesser orders being placed, most factories have reduced production durations by 30 per cent to 40 per cent, he said.

Earlier factories used to remain open on at least two Fridays every month but now all factories remain closed every Friday, he said.

The BGMEA leader opined that shipments would continue to face a downtrend in the coming months as export orders have been gradually decreasing.