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Actual data on exports and non-performing loans (NPLs) will be available from now, as the central bank prioritises the release of accurate figures, Bangladesh Bank Governor Abdur Rouf Talukder announced.
The governor’s comments come a week after the central bank updated the export number, which revealed that real shipments in July-April of fiscal year 2023-24 were roughly $14 billion lower than the sales value declared by the Export Promotion Bureau (EPB). Many people were surprised by the size of the data disparity.
“The export data has been corrected. Now the release of accurate export figures will continue,” said Talukder in a meeting. Speaking about NPLs, the governor said there was window dressing on the part of banks that tried to hide the bad loans.
The governor was addressing at a consultation meeting with various stakeholders at the central bank’s headquarters in Dhaka, as the BB prepares to publish its monetary policy for the first half of the new fiscal year.
The central bank revealed six types of statistical errors that inflated export numbers. Anomalies include serial duplication problems, fabric value miscalculations, and recurrent miscounts of sample items as exports.
The EPB, NBR, and BB have established a new approach for reporting actual export earnings.