• Friday, Oct 18, 2019
  • Last Update : 01:13 am

Import drops by 8% in October

  • Published at 07:41 am November 19th, 2013

The country’s imports declined by 8.17% to US$2.8bn in October compared to the previous month, showed Bangladesh Bank data released recently.

The import of capital machinery and food grains fell substantially due to the ongoing political unrest as reflected in the overall imports, said a senior executive of Bangladesh Bank.

The import remained sluggish since several months as big entrepreneurs reluctant to expand their business ahead of the general election, he said.

However, the October import was 8.6% higher than $2.5bn of October last year, according to letter of credit settlement data of Bangladesh Bank.

The rice import declined to $19.54m in October from $23.75m in September.

In October, wheat import decreased to $116.21m from $173.38m in September while edible oil (refined) dropped to $32.19m from $53.47m and pulsed declined to $29.51m from $44.46m, according to the Bangladesh Bank data.

The central bank figures show the import of capital machinery in October fell to $110m from $147m in September.

The LCs (letter of credit) opened in the month of October dropped by 11.23% to $2.7bn from $3.14bn in the previous month. 

In the last fiscal year, the country’s total imports dropped to $32.35bn from $34.81bn of the previous fiscal.