No impact of revised export data on GDP or incentive calculation: Finance Ministry

The Ministry of Finance on Tuesday issued an explanatory note saying that the recent revision of export data would leave no impact on GDP data or disbursed incentives on export.

The Finance Ministry said that the Bangladesh Bureau of Statistics (BBS) calculates GDP growth based on Bangladesh Bank data and similarly the export incentive disbursed by the central bank against repatriation of export proceeds. Before the disbursement of incentive, the central bank audits export information by a third-party audit farm. In both cases, the central bank data that has been used is authentic.

As a result, the recent fears of a fall in the report published in newspapers and consequent decline in GDP and per capita income are not correct, said the Ministry of Finance.

The Ministry also said that steps have been taken to coordinate the export data of the National Board of Revenue (NBR) and Bangladesh Bank, streamlining the method used in data collection by all the concerned agencies, UNB reports.

As a result, it is expected that there will be no significant difference in the export data published by Bangladesh Bank, National Board of Revenue, and Export Development Bureau from now on.