Nepal’s export continues to fall
Kathmandu, June 18:
Exports of Nepali products have seen a continuous fall in the recent months. But this Chaitra it made a marginal recovery than the last Chaitra.
In the first nine months of 2007-08, total exports went down by 2.6 per cent in comparison to a decline by 2.9 per cent in the corresponding period of the previous year. The declining merchandise export has been a matter of concern for the exporters and the government also.
In the review period, export to India plummeted by 8.3 per cent and to other countries increased by 10.3 per cent. In the previous year, export to India had declined by 2.3 per cent and to other countries by 4.2 per cent.
In the first nine months of 2007-08, total imports increased significantly by 19.5 per cent compared to a rise of 7.4 per cent in the corresponding period of the previous year. Of the total imports, imports from India soared by 22.6 per cent in the review period compared to a growth of 9.5 per cent in the corresponding period of 2006-07.
Similarly, imports from other countries went up by 14.3 per cent compared to a rise of four per cent in the previous year.
The overall Balance of Payment (BoP) also posted a surplus of Rs 13.68 billion in the first nine months of this fiscal year, according to the data of the central bank. The BoP had registered a surplus of Rs 10.89 billion in the corresponding period last year. Despite the rise in trade deficit, the increase in the workers’ remittances and capital transfers accounted for surplus in the BoP.