Bangladesh Imports: Import down by around 10% in Jul-Dec FY21 | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 23, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 23, 2025
Import down by around 10% in Jul-Dec FY21

Trade

Farhad Hossain
16 January, 2021, 10:20 pm
Last modified: 17 January, 2021, 10:51 am

Related News

  • Bangladesh signs MoU to import 7 lakh tonnes of wheat annually from US for 5 years
  • Refined sugar imports double in FY25 as duty cuts bite local refiners
  • NBR withdraws advance tax on imports of cotton, man-made fibres
  • Govt to import 4 lakh tonnes of rice to avert food risk in flood season
  • US wants easier access for military equipment, LNG, wheat, cotton imports: Commerce secretary

Import down by around 10% in Jul-Dec FY21

In July-December of the fiscal 2020-21, LC settlement decreased by 9.7% to $2.57 billion compared to the same period a year ago

Farhad Hossain
16 January, 2021, 10:20 pm
Last modified: 17 January, 2021, 10:51 am

The trend in import continues to decline in line with the fall of demand as well as production due to the impact of Covid-19 pandemic.

In the first six months (July-December) of the current fiscal year, imports declined by 9.7% compared to the same period a year ago, according to a Bangladesh Bank analysis of the data on the opening and settlement of letters of credit (LCs).

The data shows that the number of LCs opened is much less than those settled.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

In the July-December period of the current financial year, LC openings decreased by 1.42% to around $397 million compared to the same period of the previous fiscal.

On the other hand, the settlement of LCs has also decreased by $2.57 billion.

LC settlement is usually considered to be the import payment. 

Asked about this, the Centre for Policy Dialogue (CPD) Research Director Khandaker Golam Moazzem said it is difficult to make business decisions in times of uncertainty.

Many businessmen increase import considering that the demand will be higher, but as the situation has changed, the number of LCs opened is yet to be settled, he said.

Despite the declining trend in imports, the cargo handling capacity at the country's premier port is on the rise, according to the recent Monetary Policy Review report published by the central bank.

According to the report, the cargo handling in the import sector had been severely hit from March to May last year due to Covid.

However, from May, imports started to turn around again. In that month, imports were 4 million metric tons which increased to more than 8 million metric tons in November.

Moazzem said this could be that imports decreased but cargo handling increased, and even if the volume of imported goods increases, the value of those goods could be lower than what was earlier.

Citing an example, he said now the import of capital equipment for setting up industries has come down. 

"All those equipment are less in quantity but more in value. On the other hand, the goods being unloaded at the port now may be imported against the previously opened LCs," said the CPD official.

As per the central bank report, the domestic demand will continue to grow as remittance inflow was high amid the pandemic.

The report mentioned that as the private sector is turning around, imports will increase in the coming days and the economy will turn around amid the second wave of Covid. 

The situation is still uncertain in the midst of the second wave of Covid, Moazzem said, adding that the government needs to play a more proactive role in increasing the domestic demand.

Economy / Top News

Import / down / FY21

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: CA Press Wing
    Stronger stance needed on maintaining law and order: Political parties to CA
  • Volunteers collect and gather parts of the wrecked plane from the Milestone School and College grounds on Tuesday, a day after the devastating aircraft crash. Photo: Mehedi Hasan/TBS
    Grief, angst and anger: The unbearable toll of Milestone crash
  • Photo: Syed Zakir Hossain/TBS
    Secretariat protest: 75 injured in police-protester clash over edu adviser's resignation for delaying HSC rescheduling

MOST VIEWED

  • Screengrab/Video collected from Facebook
    CCTV footage shows how Air Force jet nosedived after technical malfunction
  • ISPR clarifies crashed plane was battle aircraft, not training jet
    ISPR clarifies crashed plane was battle aircraft, not training jet
  • The jet plane charred after crash on 21 July at the Milestone school premises. Photo: Mehedi Hasan/TBS
    Milestone plane crash: Death toll rises to 31 as nine more succumb to injuries
  • Students and police clash at Milestone School and College on 22 July 2025. Photo: TBS
    Protesting Milestone students clash with police, besiege law and education advisers
  • Photo: Syed Zakir Hossain/TBS
    Secretariat protest: 75 injured in police-protester clash over edu adviser's resignation for delaying HSC rescheduling
  • Aerial view of the Milestone school premises where the crash took place on 21 July. Photo: Olid Ebna Shah/ TBS
    ‘Why here?’: Concerns expressed over airbase inside city

Related News

  • Bangladesh signs MoU to import 7 lakh tonnes of wheat annually from US for 5 years
  • Refined sugar imports double in FY25 as duty cuts bite local refiners
  • NBR withdraws advance tax on imports of cotton, man-made fibres
  • Govt to import 4 lakh tonnes of rice to avert food risk in flood season
  • US wants easier access for military equipment, LNG, wheat, cotton imports: Commerce secretary

Features

Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

14h | Panorama
Photo: TBS

Mourning turns into outrage as Milestone students seek truth and justice

9h | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

1d | Panorama
Despite all the adversities, girls from the hill districts are consistently pushing the boundaries to earn repute and make the nation proud. Photos: TBS

Ghagra: Where dreams rise from dust for Bangladesh women's football

2d | Panorama

More Videos from TBS

What information did the director of the NBPSI give about the admitted patients?

What information did the director of the NBPSI give about the admitted patients?

7h | TBS Today
What is discussed at the Chief Advisor's meeting?

What is discussed at the Chief Advisor's meeting?

7h | TBS Today
Two advisors and press secretary were blocked at Milestone for 8 hours

Two advisors and press secretary were blocked at Milestone for 8 hours

7h | TBS Today
Chief advisor's meeting with 4 parties; what was discussed?

Chief advisor's meeting with 4 parties; what was discussed?

8h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net