Import LCs 43% higher in July - May of FY2022
The total value of import letters of credit (LCs) opened by authorised dealer banks during July 2021-May 2022 was 43.10% higher than that of the same period of the previous year.
Import LCs during this period was worth $84,852.07 million which was $59,297.49 million the previous year, said a Bangladesh Bank press release.
The value of LCs settled during July 2021-May 2022 totaled $75,133.30 million which was 47.59% higher than that of the same period of the previous year ($50,907.04 million).
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There have been significant increases in LC opening of wheat (+78.06%), sugar (+66.99%), milk food (+12.16%), edible oil (+56.91%) and drugs and medicines (+458.61%) and decreases in LC opening of rice (-61.83%), onion (-3.86%), fresh fruits and dry fruits (-7.86%) and pulses (all sorts) (-26.12%).
