Following the first wave of the COVID-19 pandemic, Bangladesh’s economy enjoyed turnaround of sorts, as the country’s imports rose sharply in the first 11 months of the immediate past fiscal year even as experts have expressed apprehensions that the pace of economic recovery may suffer a setback on account of the current surge of coronavirus cases.
Media reports maintained this while adding that import payments declined 11 per cent year-on-year to US $ 49.97 billion even if between July and May of last fiscal year, overall imports stood at US $ 58.62 billion, up 17.31 per cent from the previous year.
Meanwhile, import of raw cotton, in the first 11 months of last fiscal year, stood at US $ 2.83 billion, marking 5.34 per cent rise from a year ago while yarn imports also grew 18 per cent to US $ 2.08 billion.
Speaking to the media, experts and analysts, reportedly, maintained that Bangladesh’s exports as well domestic demand started to rebound since the first quarter of last year, which subsequently continued until at least May even as they feared that the pace of economic recovery might face a major setback in view of the recent wave of the pandemic.
