Dhaka, Bangladesh (BBN)- The country’s capital machinery import decreased by nearly 10 percent in July due mainly to fall in installation of fresh rental power plants, officials said.
The import of capital machinery – industrial equipment used for production -came down to US$ 197.34 million in July 2012 from $218.80 million in the corresponding period of the previous fiscal year. It stood at $98.01 million in August last, according to the central bank statistics.
“The capital machinery imports dropped in the recent months after continuing rise for over two years as setting up of new power plants, textile and agro-based industries experienced sharp rise during the period,” a senior official of the Bangladesh Bank (BB) said, adding that such declining trend of capital machinery imports may continue in the near future.
“We don’t worry about the declining trend of capital machinery imports because a large quantity of capital machinery has been imported in the recent years,” the central banker noted.
The import orders for capital machinery also plummeted by over 29 per cent to $156.96 million during the period under review from $218.80 million in the corresponding period of the pervious fiscal.
BBN/SSR/AD-17Sept12-12:20 pm (BST)
