Overall imports grow by 36pc in two months
Thursday, 30 September 2010
Siddique Islam
The country's overall imports grew by nearly 39 per cent in the first two months of the current fiscal, thanks to a jump by over 392 per cent increase in import of food grains, officials said Wednesday.
"The overall imports increased during the period mainly due to higher import of food grains, essential goods besides petroleum products and capital machinery," a senior official of the Bangladesh Bank (BB) told the FE.
Letters of credit (LCs) against imports worth US$4.504 billion were settled during July-August period of fiscal 2010-11 (FY10) compared with $3.248 billion of the corresponding period of last fiscal, according to the central bank statistics.
"The food grain imports have been encouraged during the period aiming to ensure the country's food security," the central bank official said, adding that the upward trend of import may continue for sometime.
During the period, import of food grains and other consumer goods increased by over 392.76 per cent and 67.24 per cent respectively over the same period of the previous fiscal.
The import of food grains stood at $233.44 million during the period under review against $47.37 million of the corresponding period of the previous fiscal while other consumer good rose to $326.66 million from $195.33 million.
The country's overall imports grew by nearly 39 per cent in the first two months of the current fiscal, thanks to a jump by over 392 per cent increase in import of food grains, officials said Wednesday.
"The overall imports increased during the period mainly due to higher import of food grains, essential goods besides petroleum products and capital machinery," a senior official of the Bangladesh Bank (BB) told the FE.
Letters of credit (LCs) against imports worth US$4.504 billion were settled during July-August period of fiscal 2010-11 (FY10) compared with $3.248 billion of the corresponding period of last fiscal, according to the central bank statistics.
"The food grain imports have been encouraged during the period aiming to ensure the country's food security," the central bank official said, adding that the upward trend of import may continue for sometime.
During the period, import of food grains and other consumer goods increased by over 392.76 per cent and 67.24 per cent respectively over the same period of the previous fiscal.
The import of food grains stood at $233.44 million during the period under review against $47.37 million of the corresponding period of the previous fiscal while other consumer good rose to $326.66 million from $195.33 million.