Kathmandu: Nepal’s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.

According to the latest report of Nepal Rastra Bank, the total trade deficit decreased by 2.8 percent to Rs 1053.42 billion in the review period against a decline of 17.1 percent in the corresponding period of the previous year.

The export-import ratio remained at 9.8 percent in the review period same as in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Sunday.

During the review period, merchandise exports decreased 3.7 percent to Rs 113.95 billion compared to a decrease of 26.3 percent in the same period of the previous year.

Destination-wise, exports to India and other countries decreased 6.2 percent and 2.0 percent respectively, whereas exports to China increased 232 percent.

According to the NRB report, exports of zinc sheet, particle board, juice, polyester yarn and thread, and readymade garments among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, jute goods among others decreased.

In the review period, merchandise imports decreased 2.8 percent to Rs 1167.37 billion compared to a decrease of 18.1 percent a year ago.

Destination-wise, imports from India and other countries decreased 3.2 percent and 22.6 percent respectively while imports from China increased 33.4 percent.

Imports of transport equipment, vehicle and spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of gold, crude soybean oil, crude palm oil, petroleum products, rice/paddy among others decreased, the report states.

Based on customs points, exports from Bhairahawa, dry port, Jaleswor, Kanchanpur, Krishnanagar, Mechi, Rasuwa and Tatopani customs increased whereas exports from all the other major customs points decreased in the review period.

On the import side, imports from dry port, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.