Import- export ratio shrinks as export jumps up by 37 percent

KATHMANDU: Import to export ratio shrank as export jumped up by 37 percent in the last 11 months in comparison to the review period of the 11 months of the previous fiscal year.

The Foreign Trade Statistic released by of the Department of Custom showed that the import to export ratio reduced to 11.41 from 12.51 in the same period.

The statistics revealed that export in the last 11 months of the current fiscal year stood at Rs. 121.2 billion while it was about Rs. 88 billion in the same period of the previous fiscal year.

Similarly, the data showed that import has also been up by 25.62 percent in comparison to the same period of the previous FY. In these 11 months, Nepal’s import went up to Rs 1,383.3 billion from Rs 1,100.8 billion of the previous fiscal year.

Despite the exports being bolstered, the gap of the trade deficit has been widening over the years. The statistics recorded that the deficit of trade has been up by 24.61 percent from the same period of the previous year. In the current 11 months trade deficit is up to Rs 1262.1 billion from Rs 1012.8 in the same period of the last fiscal year.