Nepal’s export remains satisfactory: NRB

Khabarhub

December 21, 2019

3 MIN READ

Nepal’s export remains satisfactory: NRB
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KATHMANDU: Nepal Rastra Bank (NRB) has stated that Nepal’s export trade has remained satisfactory in the four months of the current fiscal year 2019/20.

In four months of 2019/20, merchandise exports increased 23.9 percent to Rs.36.28 billion compared to an increase of 11 percent a year ago.

Destination-wise, exports to India increased 45.6 percent whereas exports to China and other countries decreased 6 and 4.7 percent respectively, Nepal Rastra Bank (NRB), the central bank, stated in its review of financial situation.

Mainly exports of palm oil, cardamom, yarn (polyester and other), jute goods, medicine (ayurvedic), among others, increased.

Exports of zinc sheet, wire, readymade garment, juice, woolen carpet, among others, decreased in the review period, according to the central bank.

In four months of 2019/20, merchandise imports decreased 6.9 percent to Rs.450.30 billion against an increase of 35.8 percent in the same period of the previous year.

Destination-wise, imports from China increased by 12.8 percent whereas imports from India and other countries decreased by 10.9 percent and 8.7 percent respectively.

Mainly imports of crude palm oil, other machinery and parts, hot-rolled sheet in coil, electrical equipment, electrical goods, among others, increased whereas imports of M.S. billet, petroleum products, gold, aircraft spare parts, cement, among others, decreased in the review period.

Based on customs points, exports from Birgunj Customs Office, Biratnagar Customs Office, Mechi Customs Office, Tatopani Customs Office and Kanchanpur Customs Office increased whereas exports from other customs point decreased.

On the import side, imports from Dry Port Customs Office, Tatopani Customs Office, Kanchanpur Customs Office and Rasuwa Customs Office increased whereas imports from other customs points decreased in the review period.

The total trade deficit narrowed down 8.9 percent to Rs.414.02 billion in the four months of 2019/20. Such deficit was expanded 37.8 percent in the same period of the previous year. The export-import ratio increased to 8.1 percent in the review period from 6.1 percent in the corresponding period of the previous year.

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