Bogura records 40% drop in exports last year
Bogura's products were only exported to India last year. However, in previous years, they were exported to a variety of Middle Eastern countries as well as the USA, Sri Lanka, Germany, China, and the UK.
Bogura experienced a decline of over 40% in export earnings in 2023 compared to the previous year. Export levels were notably high in 2021, 2020 and 2019 as well. Traders attributed this downturn to shrinking export items, the dollar crisis, and a global economic slowdown.
According to data from the Bogura Chamber of Commerce and Industry (BCCI), Bogura's exports totalled $57,223,479 in 2022. However, in 2023, the export value was $33,980,555, marking a decrease of $23,242,924 (approximately Tk250 crore).
The northern district exported goods worth $58,313,788 in 2021, $52,621,094 in 2020 and $72,330,632 in 2019, data shows.
BCCI Vice-President Md Mafuzul Islam Raj told The Business Standard, "In previous years, Bogura's products were exported across various countries including USA, UK, whereas in 2023, exports were limited to India alone. In 2022, Bogura exported 12 different types of products, whereas last year, only seven types were exported. Factors contributing to this decline include the dollar crisis and a global trade slowdown stemming from the Ukraine-Russia conflict."
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Raj emphasised the necessity for a resurgence in exports, highlighting the need for the development of more innovative products and an enhancement in product quality. Additionally, he stressed the importance of exploring new export markets.
Local exporters said Bogura plays a central role in the entire northern region's trade, exporting goods worth crores of taka. Improving the communication system, like establishing an airport, would attract investments, boost exports, and stimulate economic growth, leading to increased employment.
The number of export products shrinks
There has been a gradual reduction in the range of products exported from Bogura over time.
According to BCCI's annual export list for 2023, traders in the district exported seven types of products in the last year, compared to 12 types in 2022 and 16 types in 2021.
Notable exports in 2023 include rice bran oil, jute products, irrigation pumps, and motor parts. However, the previous year's exports featured oil filters, air filters, vegetables, soybeans, garment products, handicrafts, tube wells, Nakshi kantha (a type of embroidered quilt) and fish (such as pabda and shing).
Bogura's products were only exported to India last year. However, in previous years, they were exported to a variety of Middle Eastern countries as well as the USA, Sri Lanka, Germany, China, and the UK.
In 2022, air and oil filters worth $11,250, manufactured by Bogura Motors Ltd, were exported to the UK. However, this product was not on the 2023 export list.
When asked, Dr Tahmidul Islam, the director of Bogura Motors Ltd, said, "We produce filters of global standards, leading to a consistent rise in demand. The domestic market demand has also surged, hence the non-exportation this time. However, we are in the process of establishing a new factory to cater to the global market in the future."
BCCI data shows that rice bran oil has consistently led the export charts in recent years, with exports from Bogura exceeding Tk300 crore in 2022. Major contributors to this export include Tamim Agro Industries, Western Agro, Majumdar Products, and Bogura Multi Oil Mills. However, despite its prominence in exports, rice bran oil is not currently at the top of the list.
Across the country, there are a total of 17 mills or factories engaged in rice bran oil production, with the majority located in Bogura.
Bogura's irrigation pumps rank third in the list of exports from the region. Bogura exporters note that around the year 2000, the export journey of Bogura products to foreign markets commenced with irrigation pumps. However, over time, the demand for these pumps has dwindled.
Top exporters in Bogura
According to BCCI sources, some exporters are currently obtaining Certificates of Origin from the BCCI, while others are utilising certificates from chambers in Dhaka, Chattogram, and Narayanganj.
Hasan Jute Mills Ltd emerged as the leading exporter in 2023, exporting jute products worth over $16,694,000. This company also topped the export charts in Bogura in 2022.
Although Tamim Agro Industries Limited led Bogura's exporters in 2021, they secured the second position in 2023.
In 2020, Majumdar Products Limited, the leading exporter of rice bran in Bogura, did not appear on the exporters' list for 2023. Attempts were made by TBS to reach out to Chitta Majumder, the managing director of Majumdar Products, via mobile phone to ascertain the reason, but contact was unsuccessful.
However, BCCI Vice President Raj said the company's head office is located in Dhaka. It obtains Certificates of Origin from Dhaka and currently exports products from there. Additionally, two other companies in Bogura also export goods from Dhaka.
