Imports grow 27.56pc last fiscal
Siddique Islam | Monday, 28 July 2008
The country's overall imports grew by 27.56 per cent with food grains marking the highest at 142.70 per cent in fiscal 2007-08 over those of the previous fiscal.
The value of letters of credit (LCs) against imports worth $20.372 billion were settled in fiscal 2007-08 compared with $15.971 billion in the previous fiscal, according to the central bank statistics.
The country's overall import in the fiscal crossed the $20 billion mark, first time in a year, as a result of crop losses by natural disasters and price hike of essentials items, including fuel oil, in the international market, officials said.
In fiscal 2007-08, the import of food grains and other consumer goods scaled up by 142.70 per cent and 44.56 per cent respectively over the previous fiscal.
"Two floods and devastating cyclone that hit the country last fiscal year were mainly responsible for higher import of essential items, particularly food grains," a senior official of the Bangladesh Bank (BB) told the FE Sunday.
The value of letters of credit (LCs) against imports worth $20.372 billion were settled in fiscal 2007-08 compared with $15.971 billion in the previous fiscal, according to the central bank statistics.
The country's overall import in the fiscal crossed the $20 billion mark, first time in a year, as a result of crop losses by natural disasters and price hike of essentials items, including fuel oil, in the international market, officials said.
In fiscal 2007-08, the import of food grains and other consumer goods scaled up by 142.70 per cent and 44.56 per cent respectively over the previous fiscal.
"Two floods and devastating cyclone that hit the country last fiscal year were mainly responsible for higher import of essential items, particularly food grains," a senior official of the Bangladesh Bank (BB) told the FE Sunday.