Trade with India decreases

Birgunj, August 13:

Trade with India through Birgunj customs point has decreased by 7.31 per cent last year in comparison to the previous year. Nepal’s trade with India — the largest trading partner — stood at Rs 16,37,33,66,000 in the fiscal year 2063-64 BS. The figure was Rs 17,66,61,00,000 in 2062-63 BS.

Export to third countries shot up by 55 per cent during the same period, Dhruv Prasad Pa-nta, chief customs officer said.

Goods worth Rs 6,16,11,00,000 were exported to the overseas countries in the last fiscal year, the customs office said. Nepal was able to export goods worth only Rs 3,94,55,37,000 in 2062-63 fiscal year. “Although the export figure seemed to have jumped up due to price rise in raw materials, increase in international markets, surplus value decreased due to the stiff competition,” exporters said. The vegetable ghee export was highest in the last fiscal year worth Rs 2,87,80,00,000 while export of handicrafts of woollen threads stood at Rs 2,25,61,00,000.

Likewise, Nepal imported goods worth Rs 61,20,92,00,000 from India in the last fiscal year. Nepal’s import from India was Rs 54,39,74,00,000 in the preceding year. Import from third countries decreased to Rs 17,53,69,00,000 in the last fiscal year. It was Rs 18,63,22,00,000 in 2062-63 BS, according to the data provided by customs office. Import of MS billet, a raw material needed for iron industries, covered highest portion of the import figure - at Rs 2,87,20,00,000. Motorcycle import stood second with Rs 2,63,98,00,000, the customs office informed.