Friday Aug 12, 2022
Friday Aug 12, 2022

Annual trade deficit projected to reach 1.7 trillion


Nepalnews
2022 Apr 28, 15:37, Kathmandu

The Central Bureau of Statistics has projected that the import of products will reach Rs. 2 trillion in the current fiscal year. The department estimates that exports will reach Rs 320 billion. According to this estimate, if there is foreign trade, the trade deficit alone will reach around Rs 1.7 trillion.

Stating that foreign trade will also help in the economic growth of the department, Director General of the Department Nabin Lal Shrestha said that increased imports and exports will also help in achieving the projected economic growth. The government has projected 5.84 percent economic growth this year.

In the first nine months of the current fiscal year, the trade deficit figure is over 1.3 trillion. According to the Customs Department, the total import of goods has reached Rs. 1466.66 billion. Exports during this period amounted to only Rs. 160.57 billion.

The share of imports in Nepal's total foreign trade is 90.13 percent and the share of exports is 9.87 percent. The share of exports has also been increasing due to the high growth in exports till the ninth month.


READ ALSO:

annual trade deficit 1.7 trillion foreign trade economic growth of department NepalNews latest news from Nepal
Nepal's First Online News Portal
Published by Nepalnews Pvt Ltd
Editor: Raju Silwal
Information Department Registration No. 1505 / 076-77

Contact

KMC-02, UttarDhoka,
Lazimpat, Nepal

Newsroom
+977–01–4445751 / 4445754

E-mail
[email protected] [email protected]

Terms of Use Disclaimer
© NepalNews. 2021 All rights reserved. | Nepal's First News Portal