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Top 10 goods make up 60% of total imports

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FT ONLINE

More than 60 million tons of goods from 4,500 categories, worth Tk2,32,000 crore, were imported through Chittagong port in the Fiscal Year 2016-17. Goods from 10 categories totalling 35,400,000 tons constituted 60% of total imports, standing at Tk46,000.70 crore. The government earned revenues of Tk7000.34 crore from the top 10 items.

The top 10 imported items included various raw materials for cement, wheat, high speed diesel (HSD), crushed stone, scrapped vessels, furnace oil, scrap iron and petroleum oil.

Analysing the data provided by the Chittagong port, it was found that 12,490,000 ton of cement clinker worth Tk5000.61 crore (inclusive of import duty) were imported through the port in the last fiscal year. The import of cement clinkers through the port has increased by 12% in the last year alone.

2,414,000 tons of granulated slag, worth Tk585 crore, were imported through the maritime port last year. The total quantity of imported granulated slag, a raw material for cement, stood at 2,078,000 tons in FY 2015-16.

1,608,000 tons of limestone, totalling Tk392 crore, were imported in the last fiscal year. Limestone is also a raw material for making cement.

Three cement-making raw materials (cement clinker, granulated slag and limestone) totalling 16,512,000 tons were brought in through the port in the last fiscal year, constituting 27% of total imports.

The customs officials said that the import of cement-making materials and scraps increased due to the soaring demand for construction materials in the country. At the same time the import of furnace oil increased due to the rise in power generation and transports.

The import of wheat under a duty-free facility has also increased by 30% in a one-year gap. 4,850,000 tons of wheat worth Tk8414 crore were imported through the port in the last fiscal year. A total of 3,735,000 tons of wheat were imported in FY 2015-16.

3,557,000 tons of high speed diesel (HSD) worth Tk13,724 crore were brought in through the port in FY 2016-17. Besides, 1.8 million and 1.57 million tons of furnace oil and petroleum oil were imported respectively during the last fiscal year.

6.95 million tones of the three types of furnace oil were imported through the port in FY 2016-17. Compared to the previous fiscal year, the import of the three types of oil has increased by 1.16 million tons.

Meanwhile, the import of scrap vessels has decreased by 28%. Over 2 million tons of scrap vessels were imported in FY 2016-17 while 3 million tons of scrap vessels were imported in FY 2015-16.

On the other hand, the import of scrap iron has increased by 5,60,000 tons. Over 11 million tons of scrap iron were imported in FY 2015-16 while 1.72 million tons of scrap iron were brought in through the port in the last fiscal year.

Over 3.2 million tons of different types of stones were imported through the sea port in the last fiscal year.

Goods from 4,671 different categories are imported through the premier sea port of the country every year. Nine hundred of those categories see imports upwards of 1,000 tonnes.

-SAM

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