Dhaka, Bangladesh (BBN)- Bangladesh’s overall import recorded a significant rise in August 2010 over the previous month in the present calendar year due mainly to increased food grain import, officials said.
“The overall food grain imports have been encouraged during the period aiming to ensure the country’s food security,” a senior official of the Bangladesh Bank (BB) said, adding that the upward trend of import may continue in the near future.
Opening of letters of credit (LCs) against imports, generally known as import orders, increased by 21 percent during the period over the previous month, according to the central bank statistics, released on Thursday.
On the other hand, the settlement of LCs, known as actual imports, also jumped by over 35 percent during the period under review over the previous month.
The import LCs worth $3.057 billion were opened in August compared to $2.526 billion in July this year, while the LCs against imports worth $2.375 billion were settled in August 2010 against $1.753 billion in July last, the BB’s data showed.
BBN/SI/AD-17Sept10-9:31 pm (BST)