Export Promotion Bureau (EPB) has identified six major reasons including multiple entries of same data, discount on sales volume and receipt of less than Initial LC Value behind incongruity in the country's export earnings data.
Local sales from export-oriented companies, apparels' CMT export (cut-make- trim) and samples transfer were also behind the mismatch.
EPB officials pinpointed the reasons at a press briefing with journalists at its office in the city's Karwan Bazar area on Wednesday.
The officials said that they would regularly hold such monthly briefing in the coming days to release export data aiming to ensure transparency in the process.
EPB CEO and Vice-chairman Md Anwar Hossain, its director Abu Mukhles Alamgir Hossain and another director Mohammed Shahjalal were present, among others.
Mr Anwar Hossain said they have prepared the updated data on the basis of real time shipment data as per NBR Asycuda world.
He also said they would continue to provide further elaborated data for the sake of stakeholders including traders home and abroad, investors, researchers, journalists and academia.
"We shall present them in facilitated formats on EPB website so that stakeholders can access easily," he said.
Software is also being developed to make customised reports and info-graphs, that will be available online soon, he added.
Mr Alamgir Hossain made a brief PowerPoint presentation on updated export data.
According to it, the country's export earnings from merchandise were nearly $44.47 billion in the last fiscal year (FY) 2023-24 which was wrongly calculated as $55.29.
In the previous FY 2022-23, the updated figure was $46.43 billion instead of $55 billion. Bangladesh's export earnings amounted to US$11.37 billion during the July-September period of the running fiscal year 2024-25.
Single-month export earnings in September 2024 grew by 6.78 per cent to US$3.51 billion, year on year, which was US$3.29 billion in the corresponding month of 2023.
The bureau has also set a target of $57.50 export earnings consisting $50 billion from merchandise and $7.5 from service export in the running FY 2024-25.
saif.febd@gmail.com