Trade deficit increases by 6.32 per cent

Kathmandu, Dec.12 – The trade deficit of Nepal increased by 6.32 per cent to Rs.180.18 billion during the first four months of the current fiscal year as compared to the same period last year.

 

During the period, the country’s total export grew by 15.7 per cent to Rs.29.62 billion while the import surged by 7.5 per cent to Rs.209.80 billion, according to the preliminary report of the Trade and Export Promotion Centre (TEPC).

 

The report shows that the export of the country has slightly improved than imports during the review period.

 

The country’s foreign trade increased by 8.5 per cent to Rs.239.42 billion in the first four months of the current fiscal year as compared to the same period last year.

 

The contributions of the export and import to the total trade stood at around 12.4 per cent and 87.6 per cent, respectively.

 

The ratio of the export and import was 1: 7.1 during the review period, while it was 1:7.6 during the same period last year.

 

During the review period, carpet, readymade garment, lentils, textile, iron and steels goods, handicrafts, cardamom, tea, herbal products were the major exportable items.

 

The export of carpet and readymade garment increased by 46.2 per cent and 54 per cent to Rs.2.64 billion and Rs. 2.01 billion, respectively, during the period which contributed to the  increase of the export trade in the country.

 

Similarly, the export of iron and its productions increased by 9.3 per cent to 4.19 billion during the review period.

 

However, the export of lintels and polyester and hides decreased by 52.7 per cent and 3.9 per cent to Rs.600 million and Rs.1.76 billion respectively.

 

Nepal exported cardamom, tea, ginger, herbal products, handicrafts, Nepali hand-made paper and meat and edible offal worth Rs. 1.32 billion, Rs.840 million, Rs. 160 million, Rs. 420 million, Rs. 190 million and Rs. 220 million, respectively, the TEPC report stated.

 

Similarly, the import of petroleum products increased by 14.4 per cent to Rs. 37.86 billion. 

 

However, the import of iron and steel products decreased by 3.7 per cent to Rs.6.30 billion during the review period.

 

The import of transportation and parts and machinery and parts increased by 30.5 per cent and 14.4 per cent to Rs 15.07 billion and Rs. 11.10 billion respectively, the report said.

 

During the review period, Nepal imported electrical goods, cement clinker, telecommunication equipments, medicines and chemical fertilizers worth Rs. 7.99 billion, Rs.1.22 billion, Rs. 4.11 billion, Rs 4.96 billion and Rs. 4.72 billion, respectively.

 

During the review period, Nepal imported gold worth of Rs.6.30 billion, food grains worth of Rs.4.66 billion, soybean oil worth of Rs.7 billion.

 

TRN