Imports of consumer goods, capital machinery increase

Consumer and capital goods imports have increased in the first quarter of FY 2014-15, according to the central bank.
Bangladesh Bank in a media statement Monday said total value of import Letter of Credits (LCs) opened was worth $10.834 billion – a 12.81 per cent increase during Jul-Sept from the previous year.
At the end of the first quarter, values of import LCs opened for rice, wheat, sugar and pulses were $103.63 million, $378.54 million, $231.95 million and $116.79 million respectively.
The data indicate a 56 per cent increase in LCs opened for rice, a 46.04 per cent increase for sugar and an 89.10 per cent growth in LCs opened for pulses from the same period of the previous year, according to a news agency.
In addition, value of LCs opened for capital machinery has also increased by 9.82 per cent.
In that period, imports of synthetic fibre, raw cotton, yarn, textile fabrics, and accessories for garments have also risen significantly.
Values of LCs opened for yarn and synthetic fibre have registered 31.57 per cent and 38.84 per cent increase.