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Nepal's Trade Deficit Decline: Still a Long Way to Go
July 26, 2023 07:30 am
In a welcome development for Nepal's economy, the trade deficit has declined by 15.45 percent, reaching Rs 1.454 trillion in the fiscal year 2022/23. This significant drop is largely attributed to the government's measures to check imports, responding to concerns over depleting foreign currency reserves and a fall in people's income due to the recession. While this reduction in the trade deficit is undoubtedly a positive step, it is essential to recognize that there is still a long way to go before achieving a sustainable balance in trade.
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