Over the past few years, Benapole Port a vital economic gateway connecting Bangladesh and India has seen a significant decrease in imports.

The port imported 17.21 lakh tonnes of goods in fiscal year 2023–24, a considerable fall of 2.82 lakh tonnes over the previous year, according to the most recent data.

The reduction is mostly attributed by customs officials and business owners to the ongoing dollar crisis. When it comes to opening letters of credit (LCs) for imports other than necessities like food, banks are getting less and less willing. As a result, a lot of companies have had trouble importing the required goods.

According to the data, the port imported 26.44 lakh tonnes of cargo in FY ’21, but in the years that followed, that amount drastically decreased. At Benapole Customs House, less money is being collected as a result of the drop in imports.

Joint secretary of the Benapole C&F Agents Association Nasir Uddin stated that traders from both nations are very interested in doing business through Benapole because of how easy it is to communicate with one another.

“However, the current dollar crisis has led the government to impose a 100% margin requirement for opening LCs. Moreover, banks are not opening LCs, citing the dollar shortage. As a result, imports have decreased,” he told local media.