Despite
government's repeated claims of export promotion, the country has been able to
increase a mere 1.1 per cent export in the first nine months — till mid-April —
of the current fiscal year compared to the same period of last fiscal year,
according to the figures of Trade and Export Promotion Centre (TEPC).
The country exported Rs 56.53 billion worth merchandise in the nine months, against the import of Rs 441.82 billion pushing the trade deficit up by 25.7 per cent to Rs 385.29 billion, the data revealed, adding that the export-import ratio stands at 1:7.8 in the nine months of the current fiscal year, against the 1:6.5 in the same period of the last fiscal year.
As usual, petroleum product is the largest import of the country with Rs 80.59 billion, whereas textiles — the largest export of the country — stood at Rs 3.96 billion only.
Despite being an agriculture economy, the country has imported Rs 14.35 billion worth cereals, apart from Rs 11.30 billion worth pharmaceutical products and Rs 18.14 billion worth electronic and electrical equipments, it added.
However, the key export items have registered a sharp fall as woolen carpet — the second largest export — witness a drop of 15.6 per cent, cardamom 1.6 per cent, readymade garments 18.7 per cent, and cotton sacks and bags by 22.5 per cent, according to the data.
Nepal's major import markets are India, China, UAE, Thailand and Indonesia, whereas India, US, Bangladesh, China and UK are the major export markets.
The country exported Rs 56.53 billion worth merchandise in the nine months, against the import of Rs 441.82 billion pushing the trade deficit up by 25.7 per cent to Rs 385.29 billion, the data revealed, adding that the export-import ratio stands at 1:7.8 in the nine months of the current fiscal year, against the 1:6.5 in the same period of the last fiscal year.
As usual, petroleum product is the largest import of the country with Rs 80.59 billion, whereas textiles — the largest export of the country — stood at Rs 3.96 billion only.
Despite being an agriculture economy, the country has imported Rs 14.35 billion worth cereals, apart from Rs 11.30 billion worth pharmaceutical products and Rs 18.14 billion worth electronic and electrical equipments, it added.
However, the key export items have registered a sharp fall as woolen carpet — the second largest export — witness a drop of 15.6 per cent, cardamom 1.6 per cent, readymade garments 18.7 per cent, and cotton sacks and bags by 22.5 per cent, according to the data.
Nepal's major import markets are India, China, UAE, Thailand and Indonesia, whereas India, US, Bangladesh, China and UK are the major export markets.
Widening trade deficit
Month — Export — Import — Total trade
Seventh — Rs 44.20 billion— Rs 295.96 billion — Rs 384.36 billion Eighth — Rs 50.22 billion — Rs 390.87 billion — Rs 441.09 billion Ninth — Rs 56.53 billion — Rs 441.82 billion — Rs 498.35 billion (Figures of the nine months of current fiscal year. Source: Trade and Export Promotion Centre)
Month — Export — Import — Total trade
Seventh — Rs 44.20 billion— Rs 295.96 billion — Rs 384.36 billion Eighth — Rs 50.22 billion — Rs 390.87 billion — Rs 441.09 billion Ninth — Rs 56.53 billion — Rs 441.82 billion — Rs 498.35 billion (Figures of the nine months of current fiscal year. Source: Trade and Export Promotion Centre)
Top five import items
Petroleum products — Rs 80.59 billion
Iron & Steel and products thereof — Rs 43.42 billion
Transport Vehicles and parts thereof — Rs 25.08 billion
Machinery and parts — Rs 24.36 billion
Gold — Rs 18.93 billion
(Figures for the nine months of current fiscal year. Source: Trade and Export Promotion Centre)
Petroleum products — Rs 80.59 billion
Iron & Steel and products thereof — Rs 43.42 billion
Transport Vehicles and parts thereof — Rs 25.08 billion
Machinery and parts — Rs 24.36 billion
Gold — Rs 18.93 billion
(Figures for the nine months of current fiscal year. Source: Trade and Export Promotion Centre)
Top five export items
Textiles — Rs 3.96 billion
Woolen Carpet — Rs 3.94 billion
Tubes, pipes and hollow profiles of iron and steel — Rs 2.80 billion
Readymade Garments — Rs 2.73 billion
Cardamom — Rs 2.63 billion
(Figures for the nine months of current fiscal year. Source: Trade and Export Promotion Centre)
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