The Chattogram port has experienced a 2.92 percent year-on-year drop in the number of containers handled in the just concluded year whereas a slight growth in cargo movement, which reflects a slowdown in the country’s foreign trade.

Businesses blamed a worldwide economic downturn influenced by the Russia-Ukraine conflict and Middle East crisis alongside domestic issues such as an acute shortage of the US dollar and high inflation.

They, however, opined that the slowdown had taken place on a limited scale in spite of the many challenges the economy went through in 2023.

They are also optimistic of a rebound in the country’s economy this year if proper financial governance could be ensured.

About 92 percent of Bangladesh’s seaborne trade is conducted through the country’s premier seaport of Chattogram. The port handles 98 percent of the total containerised goods transport in the country.

In 2023, container throughput amounted to 30.51 lakh TEUs (twenty-foot equivalent units), according to data from the traffic department of Chattogram Port Authority (CPA).

In 2022, it was 31.43 lakh TEUs.

Meanwhile, 12.02 crore tonnes of cargo were handled, a record high, albeit by a margin of only 0.47 per cent from that last year.

This was the second lowest growth for the port in the past decade.

The lowest was 0.13 per cent in 2020, when the pandemic had surfaced.

The port officials, staff and workers, with their skill and experience, managed to retain the continuity in cargo and container handling in spite of the adverse economic situation globally, said CPA Chairman Rear Admiral Mohammad Sohail.

It shows the country’s economic resilience amidst adversities, he opined.
Source: The Daily Star