According to Nepal Rastra Bank´s report on Current Microeconomic Situation released on Wednesday, the country´s merchandise exports increased by 8.3 percent to Rs 21.64 billion over the period. Merchandise exports during the same period in the last fiscal year had declined by 22.9 percent to Rs. 19.97 billion.[break]
The report also shows that the country´s exports declined by 23.1 percent between mid-October and mid-November of the current fiscal year compared to the preceding month.
Exports to India recorded a double digit growth of 10.7 percent during the first four months in contrast to a drop of 18.9 percent registered during the same period last year. The increase in the exports to the southern neighbor has been attributed to the rise in the exports of MS pipe, thread, jute goods, plastic utensils, wire, textiles, zinc sheet, herbal medicine and juice, among others.
Likewise, exports to other countries also increased by 4.6 percent during the period in contrast to a drop of 28.5 percent in the same period last year. The exports to other countries rose due mainly to the rise in the exports of woolen carpet, readymade garments, tanned skin and leather products, among others.
The report further stated that merchandise imports grew by 2 percent to Rs. 121.35 billion during the review period. Such imports had grown by 27.3 percent to Rs 118.95 billion in the same period last year.
On monthly basis, the merchandise imports plummeted by 11.1 percent between mid-October and mid-November compared to the figures of the preceding month. Imports from India grew by 27.7 percent during the review period compared to a growth of 30.3 percent in the same period last year. Likewise, imports from other countries declined by 28.4 percent in contrast to a growth of 23.8 percent during the same period last year.
The import of petroleum product, M.S. billet, chemical fertilizers, hot rolled sheet in coil, vehicles and spare parts, machinery and parts, medicine, electrical goods and vegetables from India increased during the review period, while the imports of gold, betel nuts, polythene granules, steel rod and sheet, crude soybean oil, thread and electrical goods from other countries declined.
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