December 15: Nepal’s trade deficit declined by 3.3 percent to Rs 461.94 billion in the first four months of the current fiscal year, according to the latest report of Nepal Rastra Bank.

The Current Macroeconomic and Financial Situation Report of Nepal published by the NRB on Thursday states that such a deficit had decreased 15.9 percent in the corresponding period of the previous year.

The export-import ratio decreased to 9.9 percent in the review period from 10.3 percent in the corresponding period last year, added the report.    

According to the central bank, the country’s merchandise imports during the review period decreased 3.8 percent to Rs 512.50 billion compared to a decrease of 18.1 percent a year ago.

Destination-wise, imports from India and other countries decreased 2.5 percent and 27.7 percent respectively while imports from China increased 34.4 percent. Imports of readymade garments, MS wire rod, bars, and coils, electrical equipment, textiles, aircraft spare parts, among others increased whereas imports of crude soybean oil, gold, petroleum products, crude palm oil, MS billet, among others decreased.    

Based on customs points, imports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.    

During the review period, merchandise exports decreased 7.7 percent to Rs 50.57 billion compared to a decrease of 33.3 percent in the same period of the previous year.

Destination-wise, exports to India decreased 14.5 percent whereas exports to China and other countries increased 307.9 percent and 4.7 percent respectively.

Exports of zinc sheet, particle board, juice, readymade garments, polyester yarn and thread, among others increased whereas exports of palm oil, soybean oil, tea, woolen carpet, rosin, among others decreased.

Based on customs points, exports from Bhairahawa, Dry Port, Jaleshwar, Kanchanpur, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan Airport customs offices increased whereas exports from all the other major customs points decreased in the review period.