Jagaran Chakma

Inland water cargo vessel operations in Bangladesh declined 30 per cent over the past eight months as imports have fallen significantly amid global economic uncertainties stemming from the ongoing Russia-Ukraine war, according to industry insiders.

Motorcycle sales declined by 30 per cent in Bangladesh in the past two months due to higher inflationary pressures and a draft policy that makes securing a driving licence mandatory before buying two-wheelers.

Pharmaceutical companies are gradually enhancing their capacity to produce the raw materials needed to make medicines, which will go on to reduce Bangladesh’s over-reliance on imports and augment the country’s competitive edge in the global market. 

Bangladesh has the potential to become a hub for manufacturing electric vehicles (EV) as industries for the production of components such as batteries and tyres have already been established while the growing population assures market viability

Electric vehicles (EVs), including plug-in hybrids, will one day dominate the automobile market in Bangladesh as the demand for cars run on alternative fuel is slowly gaining ground, according to importers and distributors.

Bangladesh’s construction sector is facing challenges due to frequent hikes in the price of mild steel (MS) rod and other major construction materials while slow development activities have put many workers out of job, according to industry people.

Sales of prime movers, which are the front part of semi-trailer type trucks, fell over 62 per cent year-on-year in 2022 in Bangladesh amid a fall in imports and surge in their prices alongside that of fuel.

The consumer electronics sector in Bangladesh is witnessing a slide in demand as sales have declined by 40 per cent from a year ago amid belt-tightening by customers

Pharmaceutical shipments from Bangladesh are slowly making a turnaround with a gradual improvement in the global US dollar crisis, according to drug exporters.

Growth in leather footwear exports from Bangladesh was unsatisfactory in the first seven months of the current financial year as the economic fallout of the Russia-Ukraine war has been weighing down shipments since September, according to industry people. 

The government is planning to procure 100 electric air-conditioned double-decker buses for Bangladesh Road Transport Corporation (BRTC) under an Indian line of credit. 

The sales of commercial vehicles, particularly heavy-duty trucks, fell nearly 22 per cent year-on-year in 2022 in Bangladesh due to their higher price, a surge in fuel costs and lower imports. 

Plastic recycling plants in Bangladesh are becoming a vital part of the circular economy as foreign buyers are prioritising sourcing plastic products from Bangladeshi manufacturers who use recycled plastic along with virgin materials.

The demand for luxury apartments has remained unchanged while the sales of regular properties and initiation of new housing projects are in the slow lane amid the ongoing economic crisis, according to market players.

Rising rubber production in Bangladesh is helping local tyre manufacturers cut the country’s reliance on the imports of the product used in making bicycles, motorcycles, three-wheelers and easy bikes, said an industry insider. 

Tomato farmers, particularly those in the southwest division of Khulna, are facing steep losses as prices for the fruit have come down drastically due to oversupply, as is the case around this time each year.

The Bangladesh Investment Development Authority (Bida) has identified 106 factories as risky for lacking required fire safety measures and having vulnerable working conditions under a nationwide initiative aimed at preventing fire incidents and other disasters.

According to the Bangladesh Rubber Board (BRB) and rubber producers, 67,939 tonnes of latex were produced in the country last year, up 58 per cent from 43,000 tonnes in 2021, driven by an increase in the number of gardens and acreages under cultivation. 

The price of mild steel (MS) rod may soon cross Tk 1 lakh per tonne as production costs have risen due to a recent hike in fuel and energy prices amid the ongoing US dollar crisis, according to industry people.

The Asian Development Bank (ADB) has showed its intention to mobilise $3.5 billion along with a co-financier for the implementation of the southern route of the Dhaka Mass Rapid Development Project’s MRT Line-5, officials said.