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Foreign trade up by 19 pc


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The total foreign trade increased by 19.1 percent in the nine months of the current fiscal year 2070-71 BS and reached Rs. 592.39 billion, the Trade and Export Promotion Centre said.

The contribution of export and import in the total trade was 11.5 percent and 88.5 per cent respectively.

Total export increased to Rs.68.20 billion with an increase of 19.9 percent and total import by 19 percent to Rs.524.19 billion as compared to the same period last FY.

Although there was some improvement in export of traditional items like carpet and garment, the total trade deficit increased by 18.8 percent reaching Rs.455.99 billion, said Director of the Centre Suyash Khanal.

Other exports were woolen carpet, garments, musuro pulse, polyester and yarn, textile, iron and steel production, handicrafts, noodles, toothpaste, cardamom, tea, ginger, hand paper, leather, pashmina and herbs.

Major countries for export trade were India, USA, Germany, China, Bangladesh, UK, Afghanistan, France, Turkey, Japan, Italy, Canada, Australia and Thailand.

Import of iron, steel and productions increased by 12.1 percent to reach Rs. 47.25 billion and petroleum by 22 percent and reached Rs.99.42 billion.

Import of transport vehicles and parts increased by 21.4 and electric and electronic goods by 17.4 percent and medicines by 3.6 percent.

During the period, gold worth Rs. 19.59 billion, chemical fertilizer worth Rs. 13.12 billion and aircraft and aircraft parts of Rs.1.68 billion were imported.
    
Major countries for Nepal's import were India, China, UAE, Indonesia, Thailand, Brazil, Argentina, Germany, Malaysia, USA, Saudi Arabia, Japan, South Korea and UK.