Dhaka, Bangladesh (BBN)– Bangladesh’s overall import increased by 12.40 per cent in October over the previous month due mainly to higher import of industrial raw materials, officials said.
The actual import in terms of settlement of letters of credit (LCs) rose to US$3.36 billion in October 2016 from $2.99 billion a month ago, according to the central bank’s latest statistics.
On the other hand, the opening of LCs, known as import orders, grew by 8.78 per cent to $3.83 billion during the period from $3.52 billion in September 2016.
Talking to BBN, a senior official of the Bangladesh Bank (BB) said the overall increased significantly in October mainly due to higher import of industrial raw materials and wheat.
He also said the import of wheat has picked up after prices of the food grain fell in the international market.
The import of wheat rose to $139 million in October 2016 from $69 million a month ago, the BB data showed.
Higher import of capital machinery also contributed to raise the overall imports during the period under review, the central banker added.
The capital machinery imports rose to $279.86 million in October last from $206.77 million in September 2016.