Import of food items up, capital machinery down
Tuesday, 9 October 2007
Siddique Islam
The import of capital machinery fell by about 12 per cent during the first two months of the current fiscal over that of the corresponding period of the previous fiscal, official sources said.
The decline in capital machinery import indicates a slowdown in investment.
Besides, the import of machinery for miscellaneous industries recorded a marginal growth of about 1.0 per cent during the period, highlighting an 'unsatisfactory' situation in the industrial sector.
"We are closely monitoring the import position of industrial raw materials, capital machinery and machinery for miscellaneous industries to know actual situation in the industrial sector," a BB senior official told the FE Monday.
He also said the central bank will submit a report to the concerned authorities in this connection shortly for taking necessary measures.
The import of capital machinery declined to $250.81 million during July-August period of this fiscal from $284.77 million during the same period of the previous fiscal while the import of machinery for miscellaneous industries stood at $207.43 million against $205.42 million.
The country's overall imports grew by 14.67 per cent with food grains recording the highest growth at 151.61 cent during the period under review, according to the central bank statistics.
The letters of credit (LCs) against imports worth $2.918 billion were settled during July-August period of fiscal 2007-08 compared with $2.545 billion in the same period of the previous fiscal.
Intermediate goods worth $227.66 million were imported during the period compared to $170.53 million of the corresponding period of the previous fiscal, the data showed.
Industrial raw materials witnessed a 13.24 per cent growth to $ 1.114 billion during the period against $983.91 million of the corresponding period of the previous fiscal.
On the other hand, the import of food grains and other consumer goods increased by 151.61 per cent and 36.97 per cent respectively over the same period of the previous fiscal.
The import of food grains was worth $138.77 million during the period as against $55.15 million of the corresponding period of the previous fiscal.
The import of capital machinery fell by about 12 per cent during the first two months of the current fiscal over that of the corresponding period of the previous fiscal, official sources said.
The decline in capital machinery import indicates a slowdown in investment.
Besides, the import of machinery for miscellaneous industries recorded a marginal growth of about 1.0 per cent during the period, highlighting an 'unsatisfactory' situation in the industrial sector.
"We are closely monitoring the import position of industrial raw materials, capital machinery and machinery for miscellaneous industries to know actual situation in the industrial sector," a BB senior official told the FE Monday.
He also said the central bank will submit a report to the concerned authorities in this connection shortly for taking necessary measures.
The import of capital machinery declined to $250.81 million during July-August period of this fiscal from $284.77 million during the same period of the previous fiscal while the import of machinery for miscellaneous industries stood at $207.43 million against $205.42 million.
The country's overall imports grew by 14.67 per cent with food grains recording the highest growth at 151.61 cent during the period under review, according to the central bank statistics.
The letters of credit (LCs) against imports worth $2.918 billion were settled during July-August period of fiscal 2007-08 compared with $2.545 billion in the same period of the previous fiscal.
Intermediate goods worth $227.66 million were imported during the period compared to $170.53 million of the corresponding period of the previous fiscal, the data showed.
Industrial raw materials witnessed a 13.24 per cent growth to $ 1.114 billion during the period against $983.91 million of the corresponding period of the previous fiscal.
On the other hand, the import of food grains and other consumer goods increased by 151.61 per cent and 36.97 per cent respectively over the same period of the previous fiscal.
The import of food grains was worth $138.77 million during the period as against $55.15 million of the corresponding period of the previous fiscal.