The CTG port demonstrates remarkable growth despite facing substantial challenges
Despite numerous challenges, including a sluggish economic trend, prolonged political instability, and adverse climate conditions, Bangladesh's largest seaport, Chattogram Port, achieved a record in container handling in 2024, marking a 7.42% increase compared to the previous year.
Bangladesh's largest seaport, Chattogram Port, achieved significant milestones in 2024, despite facing numerous challenges. The port handled a total of 3.276 million TEUs of containers and 123.6 million metric tonnes of bulk cargo, recording an average growth of 3.11% in cargo handling. CPA Chairman S. M. Moniruzzaman announced that this performance marks the highest volume of container and cargo handling in the port's history, setting new records that have enhanced the port’s global reputation and provided a boost to the country's economy.
Additionally, the port registered a revenue income of Tk 50,559.9 million, a 21.39% increase from the previous year’s Tk 41,651.8 million. The revenue surplus stood at Tk 29,489.7 million, reflecting a 37.60% rise from Tk 21,431 million the prior year. Meanwhile, revenue expenditure decreased by 4.20%, totaling Tk 21,072 million compared to Tk 22,028 million in 2023.
The growth in 2024 was supported by the port's efficient operations, tallying import, export, and empty containers from its main jetties, the Pangaon Inland Container Terminal in Keraniganj, and the Kamalapur Inland Container Depot in Dhaka. Despite hurdles such as student protests in July-August, restrictions on luxury goods imports, fluctuations in the US dollar, a sharp decline in Letter of Credit (LC) openings, and a sluggish global economy, the port maintained steady progress.
Challenges from 2022 and 2023, including reduced foreign trade due to the Russia-Ukraine war, Middle Eastern conflicts, dollar scarcity, and domestic inflation, slowed container handling. However, a robust domestic economic recovery in 2024, bolstered by increased remittances and effective reforms under the Interim Government led by Prof. Muhammad Yunus, contributed to the port's achievements.
Experts and port sources credited these successes to the introduction of advanced equipment, anti-corruption measures, and streamlined operations. The rise in container and cargo handling reflects an expanding foreign trade sector, signaling recovery from recent economic downturns.
Ranked 67th among the world’s 100 busiest ports, Chattogram Port continues to confront significant challenges. However, its 2024 performance underscores its pivotal role in the country’s trade and economic resurgence.
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