The country’s export has improved significantly during the first ten months of the current fiscal year.
According to the foreign trade statistics of the Department of Customs, export trade has increased by 32.19 per cent to Rs.108.479 billion in the first ten months of the current fiscal year compared to same period last fiscal year.
The country exported goods worth Rs. 82.64 billion in the same period last year.
Similarly, goods worth Rs. 1,254.11 billion have been imported in the ten months of the current fiscal year.
Imports have increased by 22.34 per cent during the review period compared to the same period last year.
In the corresponding period of the last year, goods and services worth Rs. 1,025.13 billion were imported.
Owing to increase in export and import, the nation’s trade deficit has increased by 21.48 per cent to Rs. 1,145.63 billion during the review period.
The trade deficit had stood at Rs. 943.07 billion in the first ten months of the last fiscal year.
The share of export and import to the total trade stands at 7.96 per cent and 92.04 per cent respectively during the review period, report said.
The share of export and import to the total trade was 7.41 per cent and 92.59 per cent respectively in the same period last fiscal year.
Significant increment in the export of soybean oil, carpet and cardamom has contributed to increase overall export during the review period.
The country exported soybean oil worth Rs. 35.75 billion during the review period.
Likewise, the country exported cardamom worth Rs. 5.97 million, tea and coffee worth Rs. 3.5 billion, felt worth Rs. 3.32 billion and carpet worth Rs. 5.98 billion during the review period.
Meantime, petroleum products worth Rs. 131.05 billion have been imported during the review period.
Diesel worth Rs. 70.56 billion, petrol worth Rs. 26.86 billion, cooking gas worth Rs. 29.51 billion and aviation fuel worth Rs.3.25 billion have been imported during the review period.
The country imported crude soybean oil worth Rs. 39.48 billion and gold and silver worth Rs. 26.75 billion.
Similarly, rice worth Rs. 44.65 billion, maize worth Rs. 11.86 billion and onion worth Rs. 1.94 billion have been imported during the review period.
Source : THE RISING NEPAL,
