Staff Reporter :
The Finance Ministry asserted on Tuesday that the revision of export data will not lead to a decline in the gross domestic product (GDP) or per capita income of Bangladesh.
In a statement, the ministry clarified that the revisions made to the export data by Bangladesh Bank, National Board of Revenue (NBR), and Export Promotion Bureau (EPB) will not significantly alter the figures used for calculating GDP. The amount of foreign currency received against exports, as reported by Bangladesh Bank, forms the basis for GDP calculations by the Bangladesh Bureau of Statistics (BBS).
Addressing concerns raised in recent media reports about a potential decline in exports impacting GDP and per capita income negatively, the ministry dismissed these apprehensions as incorrect.
The recent revision by the central bank revealed a discrepancy of nearly $23 billion in export earnings over the past two fiscal years, prompting experts to highlight potential distortions in the country’s financial statistics.
The Ministry further clarified that while adjustments have been made to the current account and financial accounts in the balance of payments, the overall balance of payments remains unchanged. The revised balance of payments data has been made available on the Bangladesh Bank’s website.
Regarding financial incentives provided for exports, the Ministry affirmed that these incentives are based on actual export earnings reported by Bangladesh Bank and verified by third-party auditors, ensuring accuracy.
The statement concluded by emphasizing that the revisions in export data will not impact the GDP or per capita income adversely, reassuring stability in economic indicators despite the adjustments in financial statistics.