Unrest at Chittagong Port following a seven-day workers’ strike over the lease of the New Mooring Container Terminal (NCT) has disrupted the country’s import-export activities, triggering fears of export losses exceeding Tk 3,000 crore and dealing a heavy blow to the national economy.
During the standoff, export goods worth Tk8,720 crore were stranded at the port, including an estimated direct loss of Tk 3,000 crore, according to industry insiders.
Entrepreneurs, particularly in the ready-made garment (RMG) sector, fear losses of a similar scale due to shipment delays, missed deadlines and increased logistics costs.
The agitation began on January 31 when the Chittagong Port Protection Movement Council enforced an eight-hour strike for three consecutive days, demanding cancellation of the NCT lease agreement and withdrawal of transfer orders for 15 employees. The protest escalated into an indefinite strike from February 3 to February 5.
Although the programme was temporarily suspended after the naval adviser inspected the port on February 5, tensions resurfaced following administrative measures taken by the port authority. Workers resumed their indefinite strike from February 8 morning.
Citing the 13th National Parliament election and the need to unload essential Ramadan goods, the protesters suspended their programme again from 8:00am on February 9 until February 15. However, the movement council has warned of fresh action from February 16 if their five-point demand is not met.
While port operations have normalised since Monday, exporters warn that the damage to trade and confidence has already been done.
Dhaka Chamber of Commerce and Industry (DCCI) President Taskin Ahmed told Jago News that export goods worth $660 million – equivalent to Tk 8,720 crore at the current exchange rate –were stranded during the six-day disruption.
“In addition to a direct loss of around Tk 3,000 crore, the economy is losing about Tk 190 crore in revenue every day. Importers are also facing heavy demurrage due to vessel congestion,” he said, adding that prolonged disruption could hurt supply chains, push up prices of essentials and damage Bangladesh’s image in the global market.
Garment sector hit hard
The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) estimates that the RMG sector exports about $3 billion worth of products every month, or roughly $100 million a day. According to the association, at least 50 per cent of daily export volume was lost during the disruption.
BKMEA President Mohammad Hatem said losses stood at around $50 million per day, amounting to more than $250 million – over Tk 3,000 crore – in five days.
“To meet shipment deadlines, some exporters had to send goods by air, where freight costs eat up nearly 60 per cent of export value. At least 25 per cent of the stuck consignments had to be airlifted, significantly raising costs,” he said.
Loss assessment underway
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is currently assessing the actual financial damage.
“We are collecting shipment data from factories to calculate the real loss. It involves exports, imports and ongoing consignments, so it cannot be measured instantly,” said BGMEA Acting President Salim Rahman.
Bangladesh Employers Federation (BEF) President Fazle Shamim Ehsan said the lack of precise data makes it difficult to quantify losses but warned of longer-term risks.
“Beyond financial loss, the bigger issue is credibility. Buyers start seeing Bangladesh as a risk destination, shipping costs and insurance premiums go up, and reputational damage takes much longer to repair,” he said.
DCCI President Taskin Ahmed noted that while port disruptions have occurred before due to political unrest, labour movements and natural disasters, the current situation is more serious given foreign exchange pressures and Ramadan-related import demand.
“Earlier disruptions usually lasted one or two days. Prolonged instability now carries far greater economic consequences,” he said.