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Export Increases 14% in 5 months

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Export Increases 14% in 5 months
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January 1: Nepal has exported merchandise worth Rs 30.61 billion in the five months period of the current FY. The total export amount which was Rs 26.83 billion in the review period of the last FY has increased by 14.09 per cent in the current FY, shows a statistics of Customs Department.

According to the statistics of the department, the country's total foreign trade amounted to Rs 413 billion in the first five months period of the current FY. In the review period of the last FY, the total foreign trade had contracted to Rs 241.27 billion due to border blockade. However, with the normal condition, the foreign trade has increased by 41.13 per cent in the current FY.

As per the first five months statistics published by the department, Nepal has imported merchandise worth of Rs 382.28 billion from various countries which is 78.26 per cent growth than the review period of the last FY. In the review period of the last FY, such import from India, China and other third countries was Rs 214.44 billion.

Higher rate of import accompanied by lower export has caused the trade deficit to increase by two folds in the first five months of the current FY. During the first five months period of the last FY, Nepal had trade deficit of Rs 188 billion. However, it has increased by 87.44 per cent to Rs 352 billion in the review period of the current FY.

 

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