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Nepal: Foreign Trade Achieves an Increase of 20%

Nepal: Foreign Trade Achieves an Increase of 20%

Write: Rumiko [2011-05-20]

Nepal's trade with foreign countries has climbed 20.4 percent with revenues reaching Rs 120.42 billion for the first six months of the current fiscal year.

The country? import grew by 22.5 percent to Rs 87.91 billion.

Nepal? total exports registered a growth of 15.1 percent to Rs 32.50 billion.

Increased imports compared to exports created trade deficit of 27.3 percent reaching to Rs 55.41 billion, during the period.

Trade deficit in the previous year was Rs 43.54 billion.
Nepal? trade with India increased by 30.1 percent to Rs 76.95 billion, whereas with other countries it went up by 18.5 percent to Rs 43.47 billion.

Of the total exports, those to India reached 27.1 percent in first half of 2005-06 to Rs 22.58 billion.

Exports to other countries however, declined by 5.1 percent and remained at Rs 9.92 billion.

Increase in the exports of vegetable ghee, juice, polyester yarn, bags, readymade garments, zinc sheet and G.I. pipe contributed to the rise to India.

Decline in exports to other countries was due to decline in export of readymade garments, Nepali paper and paper products, and tea, among others.

Of the total imports, those from India rose significantly by 31.4 percent to Rs 54.37 billion in the first half of 2005-06.

Imports from other countries increased by 10.4 percent and remained at Rs 33.54 billion during the period