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Capital machinery drives a significant decline in LC openings

January 20, 2023

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In the current fiscal year’s July to December period, $1.27 billion worth of capital machinery was imported, which is 65.32% less than what was imported during the same time in FY22. However, despite the demand, businesses are unable to import products due to a lack of dollars in the country’s banks. Imports have been restricted since April of last year in an effort to reduce inflation and stabilize the dollar market. In FY22, Bangladesh Bank was required to lend the commercial banks $7.6 billion, which was a record at the time. However, the central bank sold more than $10 billion in assets between July and January 19 of FY23.

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Capital machinery drives a significant decline in LC openings

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