The Export Promotion Bureau (EPB) yesterday unveiled the export data for the July-September period of fiscal year 2024-25 and officially acknowledged that there was a $3.16 billion export data mismatch in the same quarter of the previous fiscal year.
For proper policymaking, there is no alternative to reliable data
BBS must be overhauled to ensure that it provides accurate data
The country now holds 7.4% of global market garment share
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.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday set a $100-billion apparel shipment target by 2030, which is more than double the country fetched in the just-concluded financial year.
Earnings from merchandised exports from Bangladesh soared 51.18 per cent year-on-year in April to $4.73 billion helped by higher shipment of garments, home textiles and footwear, official figures showed yesterday.
The government hands over trophies to 63 companies for their extraordinary performance in export for the fiscal 2014-15.
Exports grew by 9.01 percent year-on-year to $3.32 billion in May riding on the higher shipment of garment items, Export Promotion Bureau (EPB) reveals.
