Revenue earnings through the Akhaura land port in Brahmanbaria have dropped in the 2021-22 fiscal year while imports have increased.
Total export value through the port in FY-22 stood at Tk680.12 crore, which is Tk17.58 crore less than the previous fiscal 2020-21.
Insiders say the revenue earnings dropped primarily due to the US dollar becoming stronger against the taka. Besides, floods in a few Indian states including Tripura and Assam in June disrupted road and rail communication that left a negative impact on trading activities at this port.
On the other hand, Tk288.33 crore worth of products was imported from India through the port and it generated a revenue of Tk7.66 crore. In the previous fiscal 2020-21, Tk1.10 crore worth of products were imported through the Akhaura land port.
The import products include wheat, rice, onion, ginger, maize and CNG parts while export-bound products include frozen fish, rods, cement, cotton, plastic and LP gas.
"The trade through this land port is mainly dominated by the export of fish which accounts for 80% of the export," said Shafiqul Islam, president of Akhaura Land Port Import-Export Association.
"However, fresh fish is illegally sent to India these days which led to the decrease in export. Besides, importers have cancelled several orders due to the rising dollar value. All these contributed to the decrease of export earnings," he added.
Importing goods from India through the Akhaura land port went full swing in August last year. Traders import wheat, rice, onion, ginger and CNG parts from India. Currently, traders are not importing rice after the government withdrew the benefit of reduced tax. Traders also chose to stop importing onion after they failed to make much profit from the imported onion.
"After the import started in August last year, traders preferred to import more and export reduced slightly," said Zakir Hossain, inspector at Akhaura land port.
He hoped that both imports and exports will improve in the new fiscal.