Travel  |  Business World  |  Women's World  |  Entertainment

Change Your Life!

Imports rose 30 % in 1st quarter of current fiscal

News
Sports
Chat
Travel
Dhaka Today
Yellow Pages
Higher Education
Ask a Doctor
Weather
Currency Rate
Horoscope
E-Cards
B2K Poll
Comment on the Site
B2K Club

November 16, 2000 

Dhaka-- (UNB)- Overall imports rose 30 per cent in the first quarter of the current fiscal due to increased import of production inputs.

Food imports during the period declined significantly following enhanced cereal production in the country.

The qualitative change in imports is evident from the import letters of credit (LCs) opened during July-September.

LCs worth Tk 11858,11 crore (US$ 2253.97 million) were opened by authorised dealer banks during the period, reflecting an increase of 30.39 per cent in terms of taka and 22.23 per cent in terms of US dollar over the last year’s first quarter.

A central bank announcement yesterday (Wednesday) said opening of import LCs for food grain declined 41.49 per cent in terms of taka from the level of the same period last fiscal.

On the other hand, LC opening for import of production inputs (intermediate goods, industrial raw materials, petroleum and petroleum products etc.) and capital machinery, machinery for miscellaneous industries rose 33.05 per cent.

LCs opened for sugar import surpassed those for rice in July-September as the government imported additional amounts of the sweet grain to meet emergency market needs.

Import LCs for sugar were worth Tk 103.98 crore while for rice 103.88 crore.

Besides, the country spent much more for importing edible oil than other food items, according to the pipeline import position furnished by Bangladesh Bank.

LCs worth Tk 265.20 crore were opened for importing edible oil, including Tk 22.96 crore for refined oil. Besides, LCs worth Tk 118.10 crore were opened for import of oil and rape seeds.

LCs opened for import of pulses were worth Tk 81.81 crore, wheat Tk 81.71 crore and milk food Tk 75.94 crore.

Bulk import of production inputs came for the readymade garment and textile sectors. LCs worth Tk 451.44 crore were opened for import of raw cotton and synthetic fibre, yarn Tk 227.25 crore, and fabrics and accessories Tk 2894.69 crore.

LC costs for import of chemicals and chemical products for pharmaceutical, fertiliser and others were worth Tk 1053.80 crore.

Cement import cost Tk 52.64 crore and clinker and Limestone Tk 139.95 crore.

Send This News to a Friend