KATHMANDU: Nepal has recorded merchandise exports worth Rs 143.59 billion in 11 months of the current fiscal year 2022/23. This is a decrease of 22.7% against an increase of 53.3% in the same period of the previous FY, according to a report about the current macroeconomic and financial situation released by Nepal Rastra Bank today.
Destination-wise, exports to India decreased 32.2% while exports to China and other countries increased 106.7% and 9.9% respectively. Exports of zinc sheet, particle board, cardamom, woollen carpets, and readymade garments among others, increased while exports of soyabean oil, palm oil, oil cakes, textiles, silverware and jewellery, among others, decreased in the review period.
During the 11 months of the current fiscal year, merchandise imports decreased 16% to Rs 1480.98 billion against an increase of 27.5% a year ago. Destination-wise, imports from India, China and other countries decreased 14.8%, 17.1% and 18.5% respectively. Imports of chemical fertiliser, sponge iron, gold, paper, and other stationeries among others, increased while imports of transport equipment and parts, MS billet, medicine, crude soyabean oil, other machinery and parts, among others, decreased in the review period.
Based on customs points, exports from Bhairahawa, Dry Port, Jaleshwor, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuvan 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 whereas imports from all the other major customs points decreased in the review period.
The total trade deficit decreased 15.2% to Rs 1337.39 billion during the 11 months of 2022/23. Such a deficit had increased 25% in the corresponding period of the previous year. The export-import ratio decreased to 9.7% in the review period from 10.5% in the corresponding period of the previous year.
During the eleven months of 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 138.47 billion. Such an amount was Rs 200.88 billion in the same period of the previous year.
Current Macroeconomic and Financial Situation of Nepal Based on 11 Months data 2022-23
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During the 11 months of the current fiscal year, merchandise imports decreased 16% to Rs 1480.98 billion against an increase of 27.5% a year ago. Destination-wise, imports from India, China and other countries decreased 14.8%, 17.1% and 18.5% respectively. Imports of chemical fertiliser, sponge iron, gold, paper, and other stationeries among others, increased while imports of transport equipment and parts, MS billet, medicine, crude soyabean oil, other machinery and parts, among others, decreased in the review period.
Based on customs points, exports from Bhairahawa, Dry Port, Jaleshwor, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuvan 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 whereas imports from all the other major customs points decreased in the review period.
The total trade deficit decreased 15.2% to Rs 1337.39 billion during the 11 months of 2022/23. Such a deficit had increased 25% in the corresponding period of the previous year. The export-import ratio decreased to 9.7% in the review period from 10.5% in the corresponding period of the previous year.
During the eleven months of 2022/23, merchandise imports from India by paying convertible foreign currency amounted Rs 138.47 billion. Such an amount was Rs 200.88 billion in the same period of the previous year.
Current Macroeconomic and Financial Situation of Nepal Based on 11 Months data 2022-23
READ ALSO:
Published Date: July 10, 2023, 12:00 am
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