Nepal´s total trade increased by 5.9 percent to Rs 462.1 billion, with contribution of import and export being 86 percent and 14 percent respectively.[break]
Earlier, trade deficits were reported at Rs 222.4 billion and Rs 314.65 billion respectively during the fiscal year 2008/09 and 2009/10 respectively. Trade deficit with India - largest trade partner and China - has been recorded at Rs 216 billion and Rs 45 billion respectively for the year.
During the review year, major exports from Nepal are woolen carpet, readymade garment (RMG), lentil, yarn, textile, iron and steel products, handicrafts, silver ornaments, noodles, toothpaste, black cardamom, tea, beetle nut, Nepal home-made papers, tanned skin, pashmina shawl and medicinal herbs.
The report says exports of woolen carpet rose by 15.6 percent to Rs 4.92 billion, RMG by 8.7 percent to 4.08 billion, pashmina by a whopping 24.2 percent to Rs 1.64 billion, iron and steel products by one percent to Rs 10.12 billion, polyester yarn by 18.5 percent to Rs 5.55 billion and lentil by 10.6 billion to Rs 3.35 billion during the review year. India, USA, Germany, UK, Australia, Canada, Belgium, Netherland, France, China, Italy are the major trade partners of Nepal.
Similarly, iron and steel products, petroleum, vehicles and their parts, electronic and electric goods, machineries and their parts, polythene granule, medicine, palm oil, telecommunication materials, chemicals, chemical fertilizers, soybean oil, clinkers, RMG and gold are the major imports during the year.
According to the report, imports of petroleum products went up by 36.1 percent to Rs 75.76 billion, iron and steel products up by 24.4 percent to Rs 42.17 billion, raw palm oil by 6 percent to Rs 3.98 billion, chemicals by 16.1 percent to Rs 4.81 billion during the period. Nepal imported gold worth Rs 10.72 billion, chemical fertilizer worth Rs 6.19 billion, clinker amounting Rs 8.07 billion, soybean oil worth Rs 8.12 billion, RMG worth Rs 6.37 billion and food grain worth Rs 5.03 billion.
Imports of transport vehicles and parts dropped by 20.5 percent to Rs 24.23 billion, electronic and transport vehicles by a nominal 0.3 percent to Rs 19.29 billion, medicine by 2.1 percent to Rs 11.73 billion, machineries and their parts by 5.2 percent to Rs 26.65 billion and telecommunication equipment by 17.7 percent to Rs 10.67 billion during the period.
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