The Government has taken steps to rectify the mechanism for calculating national data to avoid a repeat of the shock that occurred after the central bank announced a significant statistical mismatch related to exports.
As part of the process, it chose to launch a platform for publishing real-time data on the country’s sales in global marketplaces, ensuring data accuracy and evidence-based policies.
The primary decision to implement the live data platform was made during a meeting of the Export Promotion Bureau (EPB) in Dhaka on Monday.
Representatives from the EPB, Bangladesh Bank, National Board of Revenue (NBR), Bangladesh Bureau of Statistics, and Bangladesh Trade and Tariff Commission attended the conference.
According to BB statistics, actual exports from July to April of fiscal year 2023-24 were roughly US $ 14 billion lower than the shipment value of items previously declared by the EPB.
This forced the Government to standardise export data, as the release of cargo estimates estimated by multiple Government entities has caused uncertainty.
The EPB would advise the Trade Ministry on the subject shortly, according to the official, who added that finances will be required to create such a sophisticated data platform.
