Import L/Cs rise 29pc in Jul-Aug led by food items
Monday, 8 October 2007
Import letters of credit (L/Cs) during the first two months of the current fiscal year increased 29 per cent to $3,590 million compared to the same period last fiscal year mainly due to huge influx of food items, reports UNB.
L/Cs settlements that explain already arrived goods and commodities were also about 15 per cent higher during the July-August period, said Bangladesh Bank figures released Sunday.
Authorised dealer banks opened L/Cs worth $149 million during the period for import of rice showing 636 per cent increase over the corresponding period of last fiscal.
L/Cs for wheat import rose 326 per cent to $168 million, milk food 67 per cent to $29 million and edible oil by 127 per cent to $224 million.
L/Cs opened for other food items included sugar $28 million, onion $22 million, fresh fruits and dry fruits $16 million and pulses $ 63 million.
L/Cs for import of capital machinery also increased 28 per cent during the period and for chemical fertilsers it increased by 102 per cent.
L/Cs settlements that explain already arrived goods and commodities were also about 15 per cent higher during the July-August period, said Bangladesh Bank figures released Sunday.
Authorised dealer banks opened L/Cs worth $149 million during the period for import of rice showing 636 per cent increase over the corresponding period of last fiscal.
L/Cs for wheat import rose 326 per cent to $168 million, milk food 67 per cent to $29 million and edible oil by 127 per cent to $224 million.
L/Cs opened for other food items included sugar $28 million, onion $22 million, fresh fruits and dry fruits $16 million and pulses $ 63 million.
L/Cs for import of capital machinery also increased 28 per cent during the period and for chemical fertilsers it increased by 102 per cent.