Data correction is going on
The government has initiated moves to correct the system to calculate national data in oder to avoid the repetition of the shock after the central bank reported a massive statistical mismatch linked to exports.
Accurate data is a crucial input for taking effective policies and putting the economy on the right track. If the data is not correct or time-befitting, policies might be proved wrong. Then, development successes will be only on paper and will not reflect reality.
One of the main reasons for the $14 billion discrepancy in the export data was the Export Promotion Bureau’s (EPB) double counting of exported garment items made in factories inside export processing zones (EPZs), Salman F Rahman, the prime minister’s adviser on private industry and investment, said yesterday.
The Export Promotion Bureau (EPB) is taking more time than it usually does to release the export data for June apparently because of the shock following the central bank’s correction of overseas sales figures.
However, the amount, $5.72b, is 0.69% lower than the monthly target
In 2022-23, the mismatch between the actual realisation reported by BB and EPB shipment figure was $12.08 billion, the highest in at least eight years
Pharmaceutical exports from Bangladesh shrank 7 per cent year-on-year in fiscal 2022-23 due to the impacts of global economic crises and subsequent US dollar shortage in most underdeveloped countries.
Interested participants can submit applications until May 31
Data correction is going on
Accurate data is a crucial input for taking effective policies and putting the economy on the right track. If the data is not correct or time-befitting, policies might be proved wrong. Then, development successes will be only on paper and will not reflect reality.
The government has initiated moves to correct the system to calculate national data in oder to avoid the repetition of the shock after the central bank reported a massive statistical mismatch linked to exports.
One of the main reasons for the $14 billion discrepancy in the export data was the Export Promotion Bureau’s (EPB) double counting of exported garment items made in factories inside export processing zones (EPZs), Salman F Rahman, the prime minister’s adviser on private industry and investment, said yesterday.
The Export Promotion Bureau (EPB) is taking more time than it usually does to release the export data for June apparently because of the shock following the central bank’s correction of overseas sales figures.
However, the amount, $5.72b, is 0.69% lower than the monthly target
In 2022-23, the mismatch between the actual realisation reported by BB and EPB shipment figure was $12.08 billion, the highest in at least eight years
Pharmaceutical exports from Bangladesh shrank 7 per cent year-on-year in fiscal 2022-23 due to the impacts of global economic crises and subsequent US dollar shortage in most underdeveloped countries.
Interested participants can submit applications until May 31
The growth of garment shipment to the US and the European Union declined in July-December as consumers in the two largest export destinations of Bangladesh have remained concerned about the persisting economic uncertainty for the raging Russia-Ukraine war.