Merchandise exports increases 37.8 per cent during 11 months
Merchandise exports increased by 37.8 per cent during the eleven months of 2020/21 reaching Rs.121.25 billion compared to an increase of 0.2 per cent in the same period of the previous year. According to Nepal Rastra Bank report released today, the destination-wise, exports to India and other countries increased 43.3 per cent and 25.9 per cent respectively whereas exports to China decreased 17.4 per cent. Exports of soyabean oil, cardamom, polyster yarn and threads, jute goods, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattlefeed, among others, decreased in the review period.
Similarly, during the eleven months of 2020/21, merchandise imports increased 25.7 per cent to Rs.1383.36 billion against a decrease of 15.3 per cent a year ago. The NRB further mentions that the destination-wise, imports from India, China and other countries increased 32.2 per cent, 24.0 per cent and 9.9 per cent respectively. Imports of transport equipment and parts, crude soyabean oil, M.S. billet, rice, telecommunication equipment and parts, among others, increased whereas imports of aircraft spareparts, crude palm oil, video television and parts, coldrolled sheet in coil, silver, among others, decreased in the review period.
The NRB report further states that based on customs points, exports from Tatopani, Kanchanpur and Rasuwa Customs Offices decreased whereas exports from all the other customs points increased in the review period. On the import side, imports from all the other customs points increased except Tatopani and Rasuwa Customs Offices in the review period. According to NRB, total trade deficit increased 24.6 per cent to Rs.1262.11 billion during the eleven months of 2020/21. Such deficit had decreased 16.4 per cent in the same period of the previous year. The export-import ratio increased to 8.8 per cent in the review period from 8.0 per cent in the same period of the previous year.