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Bangladesh's July-August import reach 7.12 bln USD

Xinhua, October 30, 2016 Adjust font size:

Bangladesh's imports in the first two months of the current 2016-2017 (July 2016-June 2017) fiscal year reached 7.12 billion U.S. dollars, posting a 3.14 percent increase, the central bank data showed Sunday.

According to statistics of the Bangladesh Bank (BB), the settlement of letters of credit (LCs), generally known as actual imports, stood at 7,158.31 million U.S. dollars in July and August compared to 6,940.26 million U.S. dollars in the same period a year ago.

In July and August, the BB data showed, Bangladesh's overall import orders, however, grew 9.90 percent year on year.

The overall import orders, officially known as fresh opening of import letters of credit, increased to 7,300.82 million U.S. dollars in July and August against 6,643.37 million U.S. dollars in the same period of the last fiscal year, it showed.

Bangladesh's actual imports surged about 4.22 percent to 40.08 billion in the last 2015-16 fiscal year (July 2015-June 2016).

China, India, Singapore, Japan and Indonesia were top five import partners of Bangladesh in the last fiscal year.

About two thirds of Bangladesh imports are now reportedly coming from 10 countries.

Bangladesh imports from China reached 9.64 billion U.S. dollars in the last fiscal year from 8.23 billion U.S. dollars in the previous 2014-15 fiscal year.

Therefore, China's share in Bangladesh's total imports in the last fiscal year surged to at 26 percent, the BB data showed.

It showed the country's imports from India sharing 15 percent of Bangladesh's total import stood at 5.45 billion U.S. dollars in 2015-16 fiscal year from 5.82 billion U.S. dollars in 2014-15 fiscal year.

Also in the last fiscal year, Bangladesh Imports from its third largest import source Singapore reached 1.96 billion U.S. dollars followed by fourth trading partner Japan from where products worth 1.60 billion U.S. dollars were imported, showed the BB data.

Indonesia, which ranked Bangladesh's fifth import partner in the last fiscal year, exported goods worth 1.22 billion U.S. dollars to Bangladesh, it showed. Endit