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Trade deficit cross Rs 480 billion

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KATHMANDU, July 11: Amidst slowing exports and ballooning import volumes, Nepal’s trade deficit jumped by 26.5 percent to Rs 480 billion during the first eleven months or daily Rs 1.45 billion of the current fiscal year, official data shows.[break]



The Trade and Export Promotion Center (TEPC) said the export-import ratio stood at 1:7.9 of Rs 618.93 billion worth of total trade reported during the review period.

Total exports from Nepal stood at Rs 69.3 billion, or 11.2 percent of total trade, while imports stood at Rs 549.63 billion.



Rise in exports was recorded at a marginal rate of 1.9 percent while imports jumped by 22.7 percent compared to the corresponding period last year.

During the review period, exports of woolen carpet and readymade garments dropped by 13 percent and 16.3 percent to Rs 5.1 billion and Rs 3.33 billion respectively. However, exports of iron products increased by 2.6 percent to Rs 10.73 billion while export of polyester yarn decreased by 8.9 percent to Rs 5.28 billion.

Import of petroleum products increased by 15.9 percent to Rs 100.58 billion, transport vehicles by 37.3 percent to Rs 29.9 billion and electric/electronic goods by 12.4 percent to Rs 21.76 billon during the review period compared to last year same period.




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