A persistent discrepancy in Bangladesh’s export data—maintained separately by the Export Promotion Bureau (EPB) and Bangladesh Bank (BB)—has once again come under scrutiny after the gap widened to $4 billion in the first 11 months of fiscal year 2024–25, despite ongoing reconciliation efforts between the two institutions.

This follows a $3.66 billion gap in FY2023–24 and a record $12 billion difference recorded in FY2022–23. In response to public criticism, the EPB temporarily suspended its monthly data releases for three months in mid-2024 and resumed publication in October after reviewing its methodology.

The central bank also corrected its Balance of Payments (BoP) data in July 2024, surprising analysts and exporters alike.

EPB primarily compiles its export data from the National Board of Revenue (NBR) and BB, focusing on shipment values. In contrast, the central bank calculates exports based on proceeds realisation—meaning actual payments received by exporters.

This fundamental difference in approach has been cited by both institutions as a key reason for the mismatch.

EPB director Abu Mukhles Alamgir Hossain acknowledged that BB’s BoP data omits exports from Export Processing Zones (EPZs) to Bangladesh and Cutting, Making, and Trimming (CMT) charges—elements included in EPB’s figures. He also pointed to discrepancies arising from BB’s inclusion of merchanting trade and goods procured in ports by carriers, as well as timing differences between shipment and payment realisation.

BB spokesperson Arief Hossain Khan echoed these concerns, noting the timing gap and differing methodological bases for data collection.

Economists have called for a more transparent and harmonised system. “Double counting can be addressed, but the real challenge is reconciling shipment data with proceeds realisation,” said Prof Mustafizur Rahman of the Centre for Policy Dialogue (CPD). “The $4 billion gap is significant—it warrants close examination.”

Selim Raihan, executive director of the South Asian Network on Economic Modeling (SANEM), urged both agencies to provide a clearer explanation and take measures to narrow the gap. “This persistent mismatch creates ambiguity and undermines confidence in export reporting,” he said.