Bangladesh’s import orders shrink 17 pct to 57.75 bln USD in 2018-19 fiscal

DHAKA, Aug. 8 (NsNewsWire) — Bangladesh’s overall imports shrank about 17 percent in the last 2018-19 fiscal year (July 2018-June 2019), an official said Wednesday, reports Xinhua.
   A Bangladesh Bank (BB) official who preferred to be unnamed said total import orders, officially known as fresh opening of import letters of credit (LCs), fell to 57.75 billion U.S. dollars in the last fiscal, a drop of 16.81 percent from the previous year.
   Quoting the probationary BB data, the official, however, said the settlements of LCs or actual import payments increased by 6.03 percent year on year to 54.64 billion U.S. dollars in the last  2018-19 fiscal year.
   The BB data showed Bangladesh’s actual imports reached 51.53 billion dollars in the previous 2017-18 fiscal year (July 2017-June 2018) .
   The growth in Bangladesh imports which usually hovers around 20 to 25 percent slumped gradually to a single digit since the end of the previous 2017-18 fiscal year owing to sluggish economic activities in the country followed by national elections held in December last year, said the BB official. Enditem