GDP, per capita income to be unchanged, clarifies Bangladesh ministry

18 Jul '24

1 min read

GDP, per capita income to be unchanged, clarifies Bangladesh ministry

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Bangladesh's finance ministry has clarified that the revision of export data would not affect GDP data or disbursed incentives on export.
Media reports of a fall in GDP and per capita income are incorrect, it said.
There will be no major difference in export data of the central bank, the National Board of Revenue and the Export Development Bureau in future.

Bangladesh’s finance ministry recently clarified that the revision of export data would not affect gross domestic product (GDP) data or disbursed incentives on export.

The Bangladesh Bureau of Statistics (BBS) calculates GDP growth based on central bank data, and the export incentive disbursed by the central bank against repatriation of export proceeds, the ministry explained.

Before the disbursement of incentives, the central bank audits export information using a third-party audit farm. In both cases, the central bank data used is authentic.

Therefore, the recent media reports of a decline in GDP and per capita income are incorrect, said the ministry.

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, domestic media outlets reported.

It is, therefore, expected that there will be no significant difference in the export data published by the central bank, NBR and the Export Development Bureau in future, the ministry added.

Fibre2Fashion News Desk (DS)

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