State of the Bangladesh Economy in FY2021-22
Independent Review of
RBD
Bangladesh's Development
Analysis of External Sector Performance
Growth of import payments has been phenomenal
The growth of import payments has exhibited a phenomenal jump of 51.4%
during Jul-Oct FY22
➤ Import payments growth was substantially high for foodgrains, consumer goods,
intermediate goods and capital goods - an indicator of some rebound of COVID-
induced subdued economic activities in the preceding year
■ However, the effect of low base of the previous year should be kept in mind in this regard
☐ A large part of the significant rise in
import payments is attributable to
the rise in global commodity prices
➤ Except rice (negative growth), most
other commodities saw significant rise
in prices. This has, in turn, resulted in
an increase in prices of many other
commodities which hinge on price of
fuels in the international markets
254.4
Figure: Change in global commodity prices
during Jul-Oct 2021
79.5
CPD (2021): State of the Bangladesh Economy in FY2021-22 (First Reading)
53.0
64.9
Brent Crude
Palm oil
Natural gas
Soybean oil
46.5
-17.6
47.9
Rice, Thai 5%
85.9
107.2
Sugar
108.7
Cotton
DAP
56.8
TSP
31.8
Urea
Aluminium
Iron ore
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