Trade deficit touches Rs 1.21 trillion per cent

While Nepal has exported goods worth Rs 87.83 billion, it has imports Rs 1.29 trillion worth goods widening the trade deficit to Rs 1.21 trillion in the 11 months. The trade deficit – of the 11 months of the last fiscal year – stood at Rs 1.03 trillion.
According to Trade and Export Promotion Centre (TEPC), the contribution of exports in the country’s foreign trade reached 6.3 per cent in the first 11 months of the current fiscal year, which is up by 19.2 per cent compared to the same period of last fiscal. “In the first 11 months of current fiscal year, Nepal exported goods worth Rs 87.83 billion,” the centre informed, adding that the country had exported goods worth Rs 73.69 billion in the same period of last fiscal year. Nepal had exported Rs 67.60 billion worth goods in the fiscal year 2016-17.
Nepal’s top exports include polyester thread, palm oil, woollen carpets, iron and steel products, readymade garments, jute and jute products, juice, cardamom, tea and pashmina, according to the TEPC report that further reads that Nepal exported polyester and other threads worth Rs 9.03 billion, which is 19.4 per cent more in the 11 months of the current fiscal year compared to the same period of the last fiscal year. “The export of iron and steel products stood at Rs 5.97 billion, while Nepal exported carpets worth Rs 6.77 billion.”