As the COVID-19 situation improves, imports of various products are increasing at an unusual pace. According to the Bangladesh Bank, the overall import of goods increased by a record 47% in the first three months of the current fiscal year. And the number of new LC openings has increased by about 49.5 percent. During this period, imports of all industries including capital equipment for setting up new industries, raw materials, and intermediate products of industries, fuel oil, and food products have increased.
According to the data of Bangladesh Bank, the opening of capital equipment LCs has been increasing since last April. From July, LC settlement and imports started increasing. In all, capital equipment worth 93 crores and 75 lac dollars were imported in the first three months of the current fiscal year. This is 18.81% more than the same period last year.
On the other hand, new LCs of capital equipment worth 138 crores and 64 lac dollars have been opened at the same time. This is 33.28% more than the same period last fiscal year. However, the highest increase in imports is of intermediate industrial products. In the first three months of the fiscal year, 151 crores and 74 lac dollars’ worth of these products were imported. This is 71.77% more than the same period last fiscal year.
At this time, a new LC of this product has been opened for 173 crores and 32 lac dollars. This is 65.51% more than the same period last fiscal year. According to the report, industrial raw materials worth 647 crores and 27 lac dollars were imported. This is 49% more than the same period last fiscal year. At the same time, the opening of new LCs for this product has increased by about 51%. In the first three months of the current fiscal year, new LCs for this product worth 720 crores and 43 lac dollars have been opened. In the first three months of the fiscal year, food imports increased by 37.14% and the rate of new LC openings increased by 67.25%. At the same time, imports of fuel oil increased by 59.58% and new LC openings rose by a record 70.40%.
