KATHMANDU, Feb 3: The country's total trade deficit has reached Rs 723.58 billion.
The total merchandise trade deficit has increased by 4.4 percent in the first six months of the current fiscal year, according to the data released by Nepal Rastra Bank (NRB) on Sunday. The deficit had decreased by 2.6 percent in the same period of the previous year. The export-import ratio has reached 12 percent during the review period, compared to 9.8 percent in the same period of the previous year.
Total merchandise exports have increased by 31.8 percent in the first six months of the current fiscal year, reaching Rs 98.79 billion. Such exports had decreased by 7.2 percent in the same period of the previous year.
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Based on destination, exports to India, China, and other countries have increased by 46.1 percent, 19.7 percent, and 1 percent respectively. By commodity, exports of soybean oil, tea, polyester yarn and thread, particle board, cardamom, and other items have increased, while exports of palm oil, zinc sheets, ginger, ready-made garments, and herbs have decreased.
Similarly, total imports of goods have increased by 7.1 percent to Rs 822.37 billion. Such imports had decreased by 3.1 percent in the same period of the previous year. By country, imports from India, China, and other countries have increased by 5.9 percent, 8.9 percent, and 9 percent respectively.
Accordingly, based on commodities imports of crude soybean oil, rice/paddy, transportation equipment, vehicles and vehicle spare parts, sponge iron, and edible oil have increased, while imports of petroleum products, crude palm oil, gold, chemical fertilizers, and kerosene have decreased.
On the export side, exports from major checkpoints except Bhairahawa, Biratnagar, Birgunj, Dry Port, Kailali, Krishnanagar, Mechi, Nepalgunj, and Rasuwa Customs Office have decreased. Likewise imports from all major checkpoints, except dry ports, including Bhairahawa, Biratnagar, Birgunj, Jaleshwor, Kailali, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa, Tatopani, and Tribhuvan Airport Customs Office, have increased.
Similarly goods worth Rs 88.56 billion were imported from India during this review period using convertible foreign exchange. Such imports were worth Rs 76.25 billion during the same period of the previous year.
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