Export earnings $47 b: EPB NBR says its $36 billions

July-April of FY 2023-24

Zarif Mahmud: For the last few years, questions are being raised about the actual export of the country. Export Promotion Bureau (EPB) figures of exports are much lower than the remittances coming back to the country. The difference between the two organisations have been increasing in the last few years. Due to high export income, the balance of trade could not be accurately calculated. In view of this, instead of EPB, Bangladesh Bank accepted the account of export income of National Board of Revenue (NBR).
Bangladesh Bank yesterday published the export income statement prepared by NBR for the 10 months of July-April of the fiscal year 2023-24. The difference in export income with EPB is about $11 billion. According to EPB data, the export earnings amount to $47.472 billion in 10 months of 2023-24. However, according to NBR’s calculations, export earnings in the 10 months of the outgoing financial year amounted to $36.637 billion.
Those concerned say that even though products from the country go to different countries of the world through export, the full amount is not coming back. There is a big difference in the country’s export income every fiscal year. This difference has been increasing over the years. In 10 months of the last financial year, the difference between NBR and EPB stood at $10.835 billion. It is also necessary to check whether money is laundered through it.
Analyzing the data of the two organizations, according to EPB, the export income of frozen and live fish in the 10 months of the outgoing financial year was $0.322 billion. However, according to NBR, the export income in this sector is $0.325 billion. Again, according to EPB data, the export income of agricultural products for the fiscal year 2023-24 was $0.788 billion and $0.824 billion according to NBR. In both these sectors, the export earnings of NBR are slightly higher than EPB.
However, the export earnings as EPB in the manufacturing sector are shown to be much higher. Out of this, the knitwear sector accounted for the largest difference in export earnings. According to EPB, knitwear exports from July to April of the outgoing financial year were $22.878 billion. And NBR says, knitwear export income is $15.767 billion.
The second highest difference in export earnings is in the woven garments sector. According to EPB, the export income in this sector is $17.616 billion while NBR says that the export income is $13.910 billion. Similarly, home textile export income is $0.703 billion according to EPB and $0.652 billion according to NBR. Export income of specialized textile products is zero decimal $271 million according to EPB and zero decimal $279 million according to NBR. In addition, the amount of footwear exports is $0.425 billion according to EPB and $0.341 billion according to NBR.
Meanwhile, NBR says that export revenue of engineering products in 10 months of the last financial year was $0.418 billion and $0.436 billion as EPB. Exports of leather and leather products are $0.872 billion according to EPB and $0.848 billion according to NBR. Export earnings of cotton and cotton related products are $0.449 billion according to EPB and $0.460 billion according to NBR. According to NBR, the export earnings of jute and jute products in 10 months of FY 2023-24 is 0.794 billion and EPB is 0.716 billion. Similarly, the export income of chemical products was 0.284 billion according to EPB and 0.289 billion according to NBR. In addition, the export income of plastic products is $0.206 billion according to NBR and $0.201 billion according to EPB.