Trade deficit widens
Kathmandu, September 6
The gap between imports and exports in the first month of the current fiscal has widened considerably as compared to the corresponding period of the previous fiscal. The country imported merchandise worth Rs 10 against exports of one rupee. The export-import ratio in the first month of last fiscal was 1:9.7, which means the country exported merchandise worth one rupee as against imports of Rs 9.7, as per the Department of Customs (DoC).
Trade statistics of the first month of fiscal 2016-17, unveiled by DoC recently show a decline in export’s share in total trade. Share of export in total share stood at nine per cent in the review period as compared to 9.4 per cent of the previous fiscal. The country has imported goods worth Rs 70.17 billion against exports of Rs 6.95 billion, according to DoC.
The country’s trade deficit has increased by 12.33 per cent in the first month of this fiscal, while comparing the figures with the corresponding period of the previous fiscal.
Out of the total trade volume of Rs 77.12 billion, the country’s trade with India stands at around 64 per cent. The country imported goods worth Rs 45.51 billion from largest trading partner India in the review period and exported goods worth Rs 3.82 billion, according to DoC.