Nepal’s trade deficit drops to Rs 158.40 billion

KATHMANDU: Nepal’s foreign trade seems to be moving in a positive direction amid the global economic crisis.

In the first two months of the current fiscal year, the country conducted foreign trade worth Rs199.28 billion. Of this total, the country’s exports stood at Rs 20.44 billion while imports were worth Rs178.84 billion.

In the review period, Nepal’s exports increased by 10 percent compared to the corresponding period of the last fiscal year. However, the country’s imports declined by 22 percent in the first two months of this fiscal as compared to the same period of last fiscal. The share of exports in total foreign trade has reached 10 percent while the share of imports has touched 89 percent.

Similarly, the trade deficit has declined by 24 percent compared to last year due to an increase in exports and a substantial decrease in imports. The country had suffered a trade deficit of Rs 211 billion in the first two months of the last fiscal year. However, the trade deficit this time has come down to Rs 158.40 billion.

Experts say that Nepal has seen good growth in export trade despite the coronavirus. They reasoned that the lockdown and prohibition order imposed to control the spread of the coronavirus has helped in reducing imports in the country.

Fiscal Nepal |
Friday September 25, 2020, 05:27:48 PM |

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