November 11: Nepal’s trade deficit increased 2.1 percent to Rs 366.88 billion in the first three months of the current fiscal year compared to the corresponding period of last fiscal year. Such a deficit had decreased 13.1 percent in the corresponding period of the previous year, according to the latest report of Nepal Rastra Bank (NRB).

The Current Macroeconomic and Financial Situation Report published by the central bank on Friday states that the export-import ratio decreased to 10.0 percent in the review period from 10.4 percent in the corresponding period of the previous year.

During the review period, merchandise exports decreased 2.3 percent to Rs 40.87 billion compared to a decrease of 35.7 percent in the same period of the previous year. Destination-wise, exports to India decreased 9.4 percent whereas exports to China and other countries increased 345.9 percent and 9.5 percent respectively.

As per the report, exports of zinc sheet, particle board, juice, cardamom, polyester yarn and thread, among others increased whereas exports of palm oil, soybean oil, jute goods, woolen carpet, rosin, among others decreased.

In the review period, merchandise imports increased 1.7 percent to Rs 407.76 billion compared to a decrease of 16.2 percent a year ago.

Destination-wise, imports from India and China increased 2.4 percent and 42.4 percent respectively while imports from other countries decreased 22.8 percent.

Imports of readymade garments, MS wire rod, bars, and coils, chemical fertilizer, electrical equipment, textiles, among others increased whereas imports of crude soybean oil, crude palm oil, petroleum products, gold, MS billet, among others decreased.

Based on customs points, exports from Bhairahawa, Dry Port, Jaleswar, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport Customs Offices increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Nepalgunj, Rasuwa and Tatopani Customs Offices increased whereas imports from all the other major customs points decreased.