Trade deficit increases by 13 pc

Nepal's trade deficit has increased by 13.4 percent to Rs 302.75 billion during the first 10 months of the current fiscal year compared to the same period of last fiscal year.

According to Trade and Export Promotion Center (TEPC), the country’s import increased by 13.6 percent to Rs. 363.20 billion while export increased by 14.5 percent to Rs. 60.45 billion during the review period.

The country’s foreign trade increased by 13.7 percent to Rs. 423.65 billion during the period compared to the same period last fiscal year.

The contribution of the export and import to the total trade stood at around 14.3 percent and 85.7 percent, respectively.

Petroleum product, iron and steel and gold stands as the top three goods that Nepal imported during the period.

Nepal imported petroleum products worth Rs 74.10 billion, which is up by
23.9 percent. Similarly, import of iron and steel also increased by 2.2 percent to Rs. 35.54 billion and Rs. 35.54 billion, respectively while import of gold increased by 177.7 percent to Rs. 21.50 billion.

Similarly, readymade garments, textile, iron, team, ginger, herbal product, handicrafts among others were the major exported products during the period. nepalnews.com