Table 1.
Description of the used variables.
| Variable | Notation | Measurement (in local currency) | Sources |
|---|---|---|---|
| Real aggregate import | M | Dividing the total value of import by the import value index after necessary adjustment to the base year 2010 | World Development Indicators, Statistical Yearbook of Bangladesh, and Monthly Economic Trends |
| Real income or real Gross Domestic Product (GDP) | Y | Constant GDP in the base year 2010 | |
| Relative import price | RP | The nominal import divided by the nominal GDP at the base year 2010 | |
| Real final private consumption and government expenditures | FCG | Constant FCG in the base year 2010 | |
| Real final investment expenditures on goods | I | Constant I in the base year 2010 | |
| Real exports | X | Constant X in the base year 2010 | |
| Foreign currency reserves | R | Total foreign currency reserves excluding gold |