The record quantity was imported in the financial year 2017-18.

The record quantity was imported in the financial year 2017-18. The amount of money is about five lakh crore taka. Which is more than 1, 23, 000 crores more than the full fiscal year budget. According to the update of the Bangladesh Bank, in the financial year 2017-18, the expenditure of Bangladesh to import various goods was 5,886 crore 53 lakh dollars, which is more than Tk 4.94 billion in Bangladesh currency. In the fiscal year 2017-18, national budget of 4 lakh 266 crore was announced. Later, the size of the revised budget was reduced to 3 lakh 71 thousand crore.

Analysts say that Bangladesh may face major pressures in increasing the cost of unnaturally imports. If this trend continues, there will be unbalanced situation in foreign trade. According to the central bank report, in the financial year 2017-18 fiscal, LC has opened 6,424.21 million (or Tk 5.83 billion) rupees for the import of various goods.

Executive Director of Policy Research Institute of Private Research (PRI) Dr. Ahsan H. Mansur believes that due to the abnormal increase in import duty and decreasing export earning, Bangladesh will face major pressures. He said that this pressure is going to end now. This pressure will increase further in the future. As a result, the situation of unbalanced trade in foreign trade has started.

According to Ahsan H Mansur, the amount of money required to meet the import expense, the money will not be there. But the question is how long it will run? That's the point of view. He said, many times we hear, importing another product in the name of importing a commodity is being imported. Many times the container also comes in empty. Again, many people are making money through over invoices (showing value of imported goods).

Meanwhile, a major deficit has been created in the last fiscal year to increase import costs. Its amount is 978 million dollars. There was a deficit of only $ 133 million in 2016-17 fiscal year. On the other hand, in the last fiscal year, the trade deficit with the external sector has also increased. In the 2016-17 fiscal year, where the trade deficit was 947 billion dollars, in the last fiscal year it has increased to $ 825 billion.

According to the central bank report, the cost of opening the letter of credit (LC) for the import of different goods in the financial year 2017-18 has increased at an abnormal rate. In the last fiscal year, the opening of LCs was about 44 percent. At the same time in the financial year 2016-17, the rate of growth was only 11 percent. As the LC opens, the growth has been around four times. At this time food prices, capital equipment, industrial raw materials and fuel oil lc opening rates have increased significantly. But the highest increase in food products, the LC opening rate, about 144 percent.

It is found in the report that in the financial year 2017-18, the expenditure on import of different goods has been 5,886 crore 53 lakh dollars. There was an amount of 4,349 billion dollars in the 2016-17 fiscal year.

According to the report, LC has opened 6,424 crore 21 million dollars for the import of various products in the fiscal year 2017-18. In the previous fiscal year, which was 4,682 crore 59 million dollars That is, in the opening of the LC, the growth has been 44.55 percent. On the other hand, the disbursement of the bonds to the import of various goods was 5, 153 million dollars, in the previous fiscal year 4 thousand 427 million 27 million dollars

According to the report, import and export of rice and wheat imported food items during the period was 360 million and 91 million dollars, in the previous fiscal year only 147.85 million dollars. According to him, the rate of opening of bonds in the import of food items increased by 144.19 percent.

In the last fiscal year, the amount of 647.34 million dollars has been opened in the import of capital equipment. In the previous fiscal year, the amount was 530 million and 81 million dollars It is seen in the report that in the financial year 2017-18, the import of raw material imported into the country was opened at Tk 1,782.77 million, which was $ 1,777.58 million in the previous fiscal year.

Agrani Bank Chairman and former Director General of Bangladesh Development Research Institute (BIDS) Zayed Bakht said, if the capital machinery increases the import, then it is very good news for the economy. He said investors may now pay attention to the investment, big projects including the Padma bridge project have given confidence to the investors, which have created a favorable environment for industrialization.