Despite a 3.86% decrease in merchandise imports through Chattogram port in fiscal year 2022-23, the total import bill surged by 10%. In FY23, 8.85 crore tonnes of goods worth Tk4.62 lakh crore were imported, compared to 9.21 crore tonnes valued at Tk4.20 lakh crore in the previous fiscal. The decrease in import quantity was attributed to restrictions on luxury goods to stabilize the country’s reserves. However, the rise in import bills was influenced by the local currency’s depreciation against the dollar and increasing commodity prices globally. The dollar’s value increased from Tk85 to Tk110 in a year, impacting importers and causing a surge in duty payments. As a result, prices of goods in the retail market increased, affecting consumers. Import volumes fell significantly in June FY23, with revenue collection decreasing by Tk5,558 crore in Chattogram Custom House.
Source for more details:
