Ctg customs revenue continues to grow on high imports

Chattogram Customs House posted 32.42% growth in revenue receipts year-on-year in December 2021, fetching over Tk4,831 crore.

On the other hand, the year-on-year revenue growth of the country's premier customs station in the first six months of the current 2021-22 fiscal year stood at about 26%.

The higher earnings over the last several months are a result of an increase in imports and a gradual normalisation of supply chains around the world, according to sources at the customs house.

Official data show the port city customs house collected over Tk27,284 in revenue in the July-December period of the ongoing fiscal year, while the figure was Tk21,664 crore in the corresponding period a year ago.

Chattogram customs collected a record Tk51,577 crore in revenue in the 2020-21 financial year, posting 23.23% year-on-year growth despite the pandemic. 

Mohammad Fakhrul Alam, commissioner at Chattogram Customs House, told The Business Standard that collection of customs revenue is mainly dependent on imports. If imports through Chattogram port increase, revenue collection also goes up, he said. 

He expects that revenue receipts will cross the 60,000 crore mark this year, if the current trend in imports continues.

The customs house has set a target of collecting Tk64,075 crore in revenue in the current financial year, while the target for the July-December period of the year was set at Tk31,570 crore.

Chattogram Customs House is responsible for customs clearance of goods imported through Chattogram port. Except for tobacco products, customs duty is not levied on export products. 

Besides, customs duty on gold and other goods imported through Shah Amanat International Airport in the port city is also levied through Chattogram Customs House.

In 2021, a record amount of goods was imported through Chattogram port. The port hit a new record in container handling as well. 

According to official data, Chattogram port posted 13.19% growth in container handling, 14.06% growth in cargo handling, and 12.63% growth in ship handling in 2021 when compared with the previous year. 

Mahbubul Alam, president of the Chattogram Chamber of Commerce and Industry, told TBS that imports of commercial products have increased as production continues to grow in the country. 

Stating that trade and commerce have returned to normal, thereby overcoming the impact of Covid-19, he said imports are now even higher than in the normal times before the pandemic, as a result of which the amount of revenue earnings of Chattogram Customs House has been increasing.

Revenue collection by Chattogram Customs House