EPB’s and BB’s Export Earnings Data for July-March Shows Discrepancies

Economic Tag: Central Bank, Export

The Export Promotion Bureau (EPB) reported export shipments valued at $40.8 billion for the July-March period of FY24, while actual export receipts through banking channels amounted to $28.6 billion, revealing a significant $12 billion gap. This disparity, highlighted in Bangladesh Bank data, primarily affects the financial account of the country’s balance of payments, reflecting trade credit deficits. Factors contributing to this gap include delays in repatriating export earnings and concerns over potential money laundering activities. The widening deficit in the financial account reached a record $9.2 billion in July-March FY24, compared to $2.9 billion in the same period last fiscal year, indicating heightened financial pressures. Bangladesh Bank is investigating whether discrepancies stem from delayed repatriation or inaccuracies in EPB-reported shipment values, amidst efforts to address the issue and mitigate its impact on the economy.

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