Import growth and the economy

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A study by the central bank reveals that with the decrease of prices in the global market, together with domestic healthy production, there has been a decline in the import growth. Whatever the reason, it is apparently good news for the country, particularly as the import of food and other essential items has come down.
However, we feel uneasy when we notice that the opening of fresh LCs for capital machinery marked a significant fall and their settlement also remained sluggish. Besides, the import of intermediate goods like scrap vessels, raw cotton, coal and cement has been reduced. This has resulted in holding back the overall business growth.
In view of the global economic crisis, the government should take a closer look at the business health of the country and do whatever is necessary to get the wheel of business move faster. For this, the import of capital machinery, raw materials and petroleum products matters.

Aabir
Dhaka University
Email: aabir_15@live.com