KATHMANDU: Nepal has recorded merchandise exports worth Rs 130.90 billion in 10 months of current fiscal year 2022/23. This is a decrease of 24.5% against an increase of 59.8% in the same period of the previous FY, according to a report about the current macroeconomic and financial situation released by Nepal Rastra Bank on Friday.
Destination-wise, exports to India decreased 33.6% while exports to China and other countries increased 100.6% and 8.2% respectively. Exports of zinc sheet, particle board, cardamom, woollen carpets, polyester yarn and thread, among others, increased while exports of soyabean oil, palm oil, oil cakes, textiles, silverware and jewellery, among others, decreased in the review period.
Likewise, merchandise imports decreased 16.8% and stood at Rs 1335.32 billion against an increase of 28.0% a year ago.
Destination-wise, imports from India, China and other countries decreased 15.1%, 21.0%, and 18.6% respectively. Imports of chemical fertiliser, sponge iron, gold, petroleum products, and paper among others, increased whereas imports of transport equipment and parts, MS billet, medicine, other machinery and parts, telecommunication equipment and parts, among others, decreased in the review period.
Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan Airport Customs Offices increased while exports from all the other major customs points decreased in the review period.
On the import side, imports from Rasuwa Customs Office increased while imports from all the other major customs points decreased in ten months.
The total trade deficit decreased 15.9% and stood at Rs 1204.42 billion till mid-May in current fiscal year 2022/23. Such a deficit had increased 24.9% in the corresponding period of the previous year. The export-import ratio decreased to 9.8% in the review period from 10.8% in the corresponding period of the previous year.
Merchandise imports from India by paying convertible foreign currency amounted to Rs 119.60 billion. Such an amount was Rs 183.94 billion in the same period last year.
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Likewise, merchandise imports decreased 16.8% and stood at Rs 1335.32 billion against an increase of 28.0% a year ago.
Destination-wise, imports from India, China and other countries decreased 15.1%, 21.0%, and 18.6% respectively. Imports of chemical fertiliser, sponge iron, gold, petroleum products, and paper among others, increased whereas imports of transport equipment and parts, MS billet, medicine, other machinery and parts, telecommunication equipment and parts, among others, decreased in the review period.
Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan Airport Customs Offices increased while exports from all the other major customs points decreased in the review period.
On the import side, imports from Rasuwa Customs Office increased while imports from all the other major customs points decreased in ten months.
The total trade deficit decreased 15.9% and stood at Rs 1204.42 billion till mid-May in current fiscal year 2022/23. Such a deficit had increased 24.9% in the corresponding period of the previous year. The export-import ratio decreased to 9.8% in the review period from 10.8% in the corresponding period of the previous year.
Merchandise imports from India by paying convertible foreign currency amounted to Rs 119.60 billion. Such an amount was Rs 183.94 billion in the same period last year.
READ ALSO:
Published Date: June 11, 2023, 12:00 am
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