Nepal’s merchandise exports drop 33.3%, imports 18.1%: NRB data

KATHMANDU: Nepal’s merchandise exports decreased 33.3% amounting to Rs 54.77 billion in the first four months of the current fiscal year 2022/23, according to data released Nepal Rastra Bank (NRB). The country witnessed an increase of 104.3% in the same period of the previous year. Destination-wise, exports to India and China decreased 42.3% and 34.2% respectively while exports to other countries increased 7.4%. Exports of zinc sheet, particle board, woolen carpets, tea, readymade garments, among others, increased while exports of soyabean oil, palm oil, oil cakes, jute goods, textiles, among others, decreased in the first four months of current FY. Likewise, merchandise imports decreased 18.1% amounting to Rs 532.69 billion against an increase of 61.6% during the same period in the previous FY. Destination-wise, imports from India, China and other countries decreased 16.5%, 20.9%, and 20.1% respectively. Imports of petroleum products, chemical fertiliser, sponge iron, gold, aircraft spare parts, among others, increased while imports of transport equipment and parts, silver, telecommunication equipment and parts, MS billet, crude soyabean oil, among others, decreased in the review period. Based on customs points, exports from Dry Port, Jaleshwor, Kailali, Krishnanagar, Mechi and Tribhuvan International Airport Customs Offices increased while exports from all other major customs points decreased in the review period. On the import side, imports from Jaleshwor Customs Office increased while imports from all the other major customs points decreased. The total trade deficit decreased 15.9% to Rs 477.92 billion during the four months of current FY. Such a deficit had increased 56.8% in the corresponding period of the previous year. The export-import ratio decreased to 10.3% in the review period from 12.6% in the corresponding period of the previous year. Likewise, merchandise imports from India by paying convertible foreign currency amounted Rs 42.69 billion. Such amount was Rs 71.40 billion in the same period of the previous FY. READ ALSO:

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