Industrial raw materials import marked a 26.4 percent growth while capital machinery saw 14.57 percent increase over the corresponding period of last fiscal year. Petroleum and petroleum products import rose 17.41 percent.

According to Bangladesh Bank (BB) statistics, the value of letters of credit (L/Cs) opened for capital machinery import was Tk 4,095 crore in the first three quarters of this fiscal which was Tk 3,574 crore during the same period of last fiscal.

"The increased import of capital machinery and industrial raw materials indicate that country's exports may go up in the coming months," said a central bank official. Export growth during July-March period of this fiscal was around 15 percent.

The overall import in terms of the value of LCs opened during the period was 18.86 percent higher than last year's nine-month figure.

Import of intermediate goods and machinery for industries also rose 8.07 percent and 7.53 percent from that of last fiscal year. Industrial machinery imports amounted to Tk 3580 crore this fiscal, which was Tk 3329 crore last year.

Crude edible oil import amounted to Tk 2321.33 crore during July-March period of this year, up by Tk 699.59 crore from last year's corresponding period. Refined oil imports however declined to Tk 59.88 crore from Tk 67.55 crore last year.

In March 2004, import L/Cs worth $1157.18 million (Tk 6828.72 crore) were opened by authorised dealer banks, which was 32.78 percent higher than that of February 2004.