Export-import, business sectors face uphill battle to normalcy

Despite the reopening of markets and shops, sales remain low due to the ongoing protests that keep people indoors unless absolutely necessary, according to traders

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Highlights:

• Trade leaders say the situation remains far from normal
• Lots of containers still remain stranded at Ctg port
• Slow internet speed is hindering customs clearing
• Khatunganj traders see a 70% decline in sales
• Goods transportation by trains stay subdued, truck fares elevated

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The country’s import-export trade and other commercial activities remain muted, even a week after internet services were restored and daytime curfews were relaxed.

Despite the reopening of markets and shops, sales remain low due to the ongoing protests that keep people indoors unless absolutely necessary, according to traders.

During the third week of July, the country’s businesses and trade ground to a halt amid violent clashes related to the student movement against discrimination, which led to a nationwide internet blackout and curfew.

The ongoing movement, after a week of calm, reignited yesterday in Dhaka, Chattogram, and several other districts, with students, parents, teachers and diverse groups demanding justice for those killed in recent clashes, among other things.

Trade leaders said the situation remains far from normal as container congestion at ports, long wait times for ships, disrupted rail and road transport, and a shortage of transport vehicles continue to hinder trade activities.

“Container congestion at Chattogram port is delaying the delivery of imported goods and raw materials, eventually disrupting factory production,” said BGMEA Vice President Rakibul Alam Chowdhury.

He told TBS that speeding up port operations is essential for restoring normal commercial activities nationwide.

Chattogram port data shows that the number of twenty-foot equivalent unit (TEU) containers at the country’s main trade gateway reached 39,139 on 31 July, well above the usual 32,000-33,000.

This congestion stemmed from a halt in goods delivery that lasted more than five days until 25 July, causing container ships to wait longer than usual at the port jetties.

On 31 July, 13 container ships were waiting offshore to dock, with some having been at sea for five days and others for three to four days. Additionally, the port jetty was crowded with two vessels that had arrived four days earlier.

Industrialists said it may take at least 15-20 days for conditions to return to normal after the crisis.

Omar Hazzaz, president of the Chittagong Chamber of Commerce and Industries, has urged the government to implement effective measures to quickly resolve the current political situation and alleviate the deadlock impacting business and import-export trade.

Containers pile up at ICDs

According to the Private Depot Association, an average of 2,000 single containers of goods are exported through the port every day. On July 31, 19 depots in Chattogram had 8,700 TEUs of export products. It rose to 9,335 TEUs on 1 August. These containers are awaiting shipment.

The pressure on private depots has led to delays in exports as products from factories nationwide are now accumulating at 19 private depots.

Ruhul Amin Sikder, secretary general of the Bangladesh Inland Container Depots Association, told TBS, “For almost a week during the internet shutdown, no export products left factories. These shipments are arriving at depots now.

“Although there is pressure, we have sufficient container handling capacity.”

Internet connectivity remains slow

Slow internet speed is plaguing customs clearing and forwarding agents as they rush to submit bills of entry and export in the Automated System for Customs Data (ASYCUDA) software. This issue makes it challenging for agents to manage the pressure of clearing imported goods and processing exported goods.

Kazi Mahmud Imam Bilu, General Secretary of the Chittagong Customs C&F Agents Association, told TBS, “Typically, it takes 20-30 seconds to upload the Bill of Entry and Bill of Export forms in ASYCUDA. But now, due to slow internet speeds, the process takes 5-10 minutes, requiring our employees to work longer hours.”

Khatunganj traders see a 70% decline in business

The tense situation hanging over the country has significantly impacted Khatunganj, the country’s one of the largest consumer goods markets, where sales have plummeted by nearly 70%.

Syed Sagir Ahmad, general secretary of the Khatunganj Trade Association, said, “Typically, the market handles transactions averaging Tk2,500 crore daily. However, this figure has dropped by 70-80% to just Tk400-500 crore.”

He said, “Even though every shop is open, an uneasy calm persists throughout the country. Businessmen are experiencing uncertainty.”

Not just in Khatunganj, there are fewer customers in restaurants across Chattogram and other places. Social events have been halted. As a result, consumer goods sales have also decreased, Sagir Ahmad added.

Goods transportation by trains limited

Following deadly clashes and unrest, rail transportation of goods was halted on July 19 and only partially resumed a few days ago. However, the supply of goods across the country remains subdued to this day.

Mohammad Saiful Islam, divisional railway manager for Bangladesh Railway Eastern Region, told TBS, “Every day, two trains leave Chattogram with 30 containers, and similarly, two trains arrive Chattogram from Dhaka.”

“Since 19 July, freight train services have been suspended. However, freight train operations began on a limited scale and we are optimistic that goods transportation will normalize soon,” he added.

Truck fares stay elevated

The limited availability of covered trucks compared to demand has led to increased transportation fares, adversely impacting the product supply chain.

Chowdhury Zafar Ahmed, general secretary of the Bangladesh Covered Van-Truck-Prime Mover Goods Transport Owners Association, said while daytime curfews have been relaxed, nighttime restrictions are hindering goods transportation.

He said the truck fare for the Dhaka-Chittagong route, which is normally Tk16,000, surged to Tk30,000 a week ago. Although fares have decreased slightly to Tk23,000-24,000 over the past 2-3 days, it will take several more days to return to normal levels.