Bangladesh import orders plunge 22% to $35 billion
Bangladesh's overall imports plunged over 22 per cent to $35.44 billion in the seven months (July-January) of the this fiscal, said an official on Wednesday.
Overall import orders, officially known as fresh opening of import letters of credit (LCs), during the period declined by 22.4 per cent year-on-year (YoY) to $35.44 billion, reported Xinhua on Wednesday quoting a Bangladesh Bank official.
However, the settlement of LCs or actual import payments increased by 9.96 per cent YoY to $32.6 billion during the period, the official said quoting data from the Bank.
Bangladesh's actual imports surged 25 per cent to $54.46 billion in the last fiscal when China, India, Singapore, Japan and Indonesia were top five import partners of the country.
Bangladesh follows July to June financial year, like the US, Australia and Egypt.
According to the official, the growth in imports, which hovers around 20-25 per cent, slumped to a single-digit since the end of 2018.
On having a slower import growth, he said, since the end of 2018 many investors adopted a "wait and watch" approach as the country underwent elections in December.
- Jamdani revival needs more issues shored up
- Bangladesh Market by Segmentation, Major Players, Size, Market...
- DSE index, turnover lowest in 3 months
- Dhaka stocks hit 3-month low as sell-offs resume
- Third Nepal-Bangladesh Business Forum in Kathmandu Thursday
- A tale of two economies
- Bangladesh's big draws for business
- Climate change is a security threat. We must...
- Semi-conductor shortage having ripple effect on new and...
- Bangladesh suspends Nepal flights to curb Covid spread
- Study: 77% of Bangladeshi returnee migrants struggling to...
- Dhaka can explore CIS, other export markets: Stakeholders
- New “Cruella” Apparel and nuiMOs JUST AROUND THE...
- How Bangladesh will get richer and save the...
- Explore new export markets, including Africa: experts
- Scrap computer, electronics recycling to be held in...
- The Best Outdoor Side Tables for Completing Your...
- Nokia Phones Soon Be Produced In Bangladesh