The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
Imports of consumer goods and capital machinery increase
Consumer and capital goods imports have increased in the first quarter of FY 2014-15, according to the central bank.
Published : 27 Oct 2014, 02:21 PM
Updated : 27 Oct 2014, 02:21 PM
Bangladesh Bank in a media statement on Monday said total value of import Letter of Credits (LCs) opened was worth $10.834 billion – a 12.81 percent increase during Jul-Sept from the previous year.
At the end of the first quarter, values of import LCs opened for rice, wheat, sugar and pulses were $103.63 million, $378.54 million, $231.95 million and $116.79 million respectively.
The data indicate a 56 percent increase in LCs opened for rice, a 46.04 percent increase for sugar and an 89.10 percent growth in LCs opened for pulses from the same period of the previous year.
In addition, value of LCs opened for capital machinery has also increased by 9.82 percent.
In that period, imports of synthetic fibre, raw cotton, yarn, textile fabrics, and accessories for garments have also risen significantly.
Values of LCs opened for yarn and synthetic fibre have registered 31.57 percent and 38.84 percent increase.
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