Bangladesh's Development Independent Review
Independent Review of
RBD
Bangladesh's Development
Power and energy
☐ A significant amount of foreign exchange
was spent in FY22 for importing energy
➤ The spending would be much higher for FY23
- A considerable rise is observed in LC opening
and settlement in FY22 (in terms of USD)
This is observed for all imported energy -
refined and crude petroleum and import of coal
For example, an additional USD 3.7 billion
had to spent for settlement of LCs in FY22 for
importing energy (except LNG)
Such a high spending is likely to continue for
energy import in FY23
Import of petroleum goods (in million US$)
2021-22 July-May
2020-21 July-May
0
853
6392.6
5468.2
2575.1
2000
4000
6000
8000
POL
Crude petroleum
Source: Bangladesh Bank
LC Opening and Settlement for Importing Energy (million USD)
July-April
July-April
Refined
Fresh
Outstanding Settlement
Crude oil
Petroleum opening of
LCs at the
of import
import LCs
end period
FY20
3782.09
275.03
FY21
2839.59
72.49
FY22
5636.18
492.9
LCS
3573.76
2777.4
5742.43
Fresh Outstandin Settlement
opening of g LCs at the of import
import LCs end period LCs
Coal
of
July-April
Fresh Outstan
opening ding
LCs at
Settlem
ent of
FY20
383.03
93.33
287.14
FY21
551.42
6.23
583.79
FY22
967.96
63.18
1004.57
FY 20
FY 21
LCS
396.21
import the end
period
import
LCS
11.59 337.04
316.05
% changes
% changes
9.37
281.26
FY 22
741.09 132.03 614.48
FY20-FY21 -24.92
FY21-FY22
98.49
-22.28
106.76
FY20-FY21
43.96
103.31
% changes
FY21-FY22 75.54
71.08
FY20-FY21-20.23
FY21-FY22 141.8
-19.15
118.48
CPD (2022): Recent Challenges Facing the Bangladesh Economy: A Brief Overview
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