KATHMANDU, Dec 23: Nepal’s trade balance in the first five months plunged to a negative Rs 735.48 billion, despite the country achieving a notable gain in its export earnings.
The records of the Department of Customs (DoC) show that Nepal’s trade deficit deepened by 54.70 percent from Rs 475.44 billion during mid-July and mid-December last year. This shows that the country’s trade deficit widened by Rs 260 billion during the review period.
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This year, the landlocked country has been able to increase its export earnings by more than double. According to DoC, the revenue generation from merchandise exports increased from Rs 50.05 billion to Rs 102.92 billion.
The notable rise in exports, however, could not benefit the country much due to an escalating volume of imports. During the period, the import expenses surged 59.55 percent, from Rs 525.49 billion to Rs 838.40 billion.
