Bangladesh’s imports in the first eleven months of the current fiscal have recorded 17.32 percent growth in comparison to the same period the previous year, indicating a revival of economic activities driven by  increased domestic demand. 

Data from Bangladesh Bank showed between July and May last fiscal year, overall imports stood at $58.62 billion, up 17.31 percent from a year ago, reported The Daily Star newspaper

Domestic demand and exports started rising since the first quarter of the last fiscal ( Fiscal year in Bangladesh starts from 1 July) and continued upward trajectory at least by May end. 

However, the second wave of the Covid-19 could affect the figures for June. 

The revival in the first eleven months is a good sign, Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue, said, adding the recent wave could derail the recovery path. 

Imports of raw cotton, mainly used in the export-oriented readymade garment industries, stood at $2.83 billion during the period, recording a 5.34 percent from one year ago. Yarn imports registered 18 percent growth and touched $2.08 billion. 

Textile and articles recorded moderate fall, around 0.26 percent, and came down to $5.83 billion. 

Import of foodgrain, meaning rice and wheat, stood at $25 billion in the 11 months, up 60 per cent year-on-yearFoodgrain imports increased as the government had catered a good quantity of rice to the poor to offset the economic hardship stemming from the pandemic, said Rahman. 

(SAM)