First Business News Portal in English from Nepal
KATHMANDU: Gross foreign exchange reserves decreased 18 percent to Rs.1146.88 billion in mid May 2022 from Rs.1399.03 billion in midJuly 2021. In the US dollar terms, the gross foreign exchange reserves decreased 21.1 percent to 9.28 billion in mid-May 2022 from 11.75 billion in mid-July 2021.
Balance of Payments (BoP) remained at a deficit of Rs 288.50 billion in the review period against a surplus of Rs.7.75 billion in the same period of the previous year.
During the ten months of 2021/22, merchandise exports increased 59.8 percent to Rs.173.35 billion compared to an increase of 32.2 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 72.9 percent and 25.6 respectively whereas exports to China decreased 24.9 percent. Exports of palm oil, soyabean oil, polyester yarn and thread, woolen carpets, oil cakes, among others, increased whereas exports of cardamom, tea, medicine (ayurvedic), toothpaste, wire, among others, decreased in the review period.
During the ten months of 2021/22, merchandise imports increased 28.0 percent to Rs.1604.65 billion compared to an increase of 22.3 percent a year ago. Destination-wise, imports from India, China and other countries increased 22.0 percent, 23.8 percent, and 49.9 percent respectively.
Total trade deficit increased 24.9 percent to Rs.1431.30 billion during the ten months of 2021/22. Such a deficit had increased 21.5 percent in the corresponding period of the previous year. The export import ratio increased to 10.8 percent in the review period from 8.6 percent in the corresponding period of the previous year.
The y-o-y consumer price inflation stood at 7.87 percent in the tenth month of FY 2021/22 compared to 3.65 percent a year ago. Food and beverage inflation stood at 7.13 percent whereas non-food and service inflation stood at 8.45
percent in the review month.
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