Imports through land ports in Bangladesh, notably from India, witnessed a significant 13% YoY decline in the fiscal year 2022-23, attributed to a prevailing US dollar crisis in the country. Bangladesh Land Port Authority data reveals a steep fall to 1.74 crore tonnes of goods across 15 land ports, marking the sharpest decrease in the last three fiscal years.
Burimari land port in Lalmonirhat recorded the highest import volume, while Benapole land port in Jashore followed. Imports from India, comprising capital machinery, consumer goods, and foodstuff, decreased to $14.22 billion from $16.15 billion. Challenges in opening letters of credit (LC), requiring 100% margins, amid the US dollar crisis were cited by industry experts, impacting small entrepreneurs. Bangladesh’s focus on essential imports and India’s restrictions on certain products further contributed to the decline. The number of goods-laden trucks from India also reduced, reaching 706,345 units in FY23.