First Business News Portal in English from Nepal
KATHMANDU: Merchandise exports has increased 69.4 percent to Rs.160.57 billion during the nine months of 2021/22 compared to an increase of 20.2 percent in the same period of the previous year, as per Nepal Rastra Bank (NRB).
Destination wise, exports to India and other countries increased 86.9 percent and 25.5 respectively whereas exports to China decreased 21.8 percent. Exports of palm oil, soyabean oil, polyester yarn and thread, woolen carpets, oil cakes, among others, increased whereas exports of cardamom, tea, wire, toothpaste, copper wire rod, among others, decreased in the review period.
During the nine months of 2021/22, merchandise imports increased 32.0 percent to Rs.1466.66 billion compared to an increase of 13.1 percent a year ago. Destination-wise, imports from India, China and other countries increased 24.4 percent, 28.6 percent, and 59.2 percent respectively. Imports of petroleum products, medicine, crude palm oil, other machinery and parts, gold, among others, increased whereas imports of M.S. billet, chemical fertilizer, cement, pulses, molasses sugar, among others, decreased in the review period.
Total trade deficit increased 28.5 percent to Rs.1306.09 billion during the nine months of 2021/22. Such a deficit had increased 12.5 percent in the corresponding period of the previous year. The export import ratio increased to 10.9 percent in the review period from 8.5 percent in the corresponding period of the previous year.
The current account remained at a deficit of Rs.512.71 billion in the review period compared to a deficit of Rs.210.51 billion in the same period of the previous year.
Balance of Payments (BOP) remained at a deficit of Rs.268.26 billion in the review period against a surplus of Rs.42.54 billion in the same period of the previous year.
In the review period, capital transfer decreased 39.5 percent to Rs.7.78 billion and net foreign direct investment (FDI) increased 33.7 percent to Rs.16.51 billion. In the same period of the previous year, capital transfer and net FDI amounted to Rs.12.86 billion and Rs.12.35 billion respectively.
Remittance inflows decreased 0.6 percent to Rs.724.74 billion in the review period against an increase of 16.5 percent in the same period of the previous year. In the US Dollar terms, remittance inflows decreased 2.2 percent to 6.05 billion in the review period against an increase of 13.1 percent in the same period of the previous year.
The y-o-y consumer price inflation stood at 7.28 percent in the ninth month of 2021/22 compared to 3.10 percent a year ago. Food and beverage inflation stood at 7.40 percent whereas non-food and service inflation stood at 7.18 percent in the review month. Average inflation remained 5.62 percent during the review period.
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