The import volume of 30 high-demand goods, including fuel, fertilizers, and consumer items, through Custom House, Chattogram, has seen a 26% decline in the first five months of fiscal year 2023-24 compared to the same period last year. The items, valued at Tk 48,819 crore, amounted to 1.20 crore tonnes, down from 1.63 crore tonnes valued at Tk 79,063 crore in the corresponding period of 2022-23.
The drop, attributed to a US dollar crisis and reduced domestic demand, resulted in a Tk 6,350 crore decrease in revenue generation. An economist emphasized the impact on industrial production, employment, and the overall economy, citing difficulties in opening letters of credit amid the dollar crisis. The decline in imports is observed across various categories, including fuel, fertilizers, and raw materials for industries.
The higher cost of the US dollar against the taka contributed to the decline in food and commodity imports. The president of the Federation of Bangladesh Chambers of Commerce and Industry highlighted the negative impact on imports due to challenges in opening letters of credit during the dollar crisis and a decrease in raw material imports by industries.
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