Trade deficit up by 7 per cent

The country’s trade deficit as of the eleventh month of the current fiscal year (2071/072) has increased by 7.4 per cent as against the corresponding period in the last fiscal year.

The total trade deficit reached Rs 616 billion this year. The increment in the deficit has been attributed to the decrease in the export of various traditional exportable goods, according to the Trade and Export Promotion Centre.

Suyas Khanal, Director of the Centre, said that there has been remarkable increment in the import compared to the period in the last year.

The foreign trade during this period this year has jumped by 4.5 per cent, standing at around 772.13 billion.

The export and import in the foreign trade have contributed by 10.1 per cent and 89.9 per cent respectively.

The major exports were woolen products, carpet, garments, textile, iron and steel and its products, various spices and handicraft items, among others.

Similarly, among the imports were petroleum products, transportation and its parts, electronic goods and the like. RSS

Source: Nepalnews