Trade Deficit Increases by 30.5 Percent in 10 Months   

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Trade Deficit Increases by 30.5 Percent in 10 Months   

June 12: Nepal's trade deficit has increased by 30.5 per cent in the first 10 months of current the fiscal year (FY 2021/22) as compared to the corresponding period of the previous fiscal year.    
According to the Trade and Export Promotion Centre, the total trade deficit has reached Rs 177.8 billion as of May 14 in the current fiscal year. The contribution of export and import to the total trade is 9.7 percent and 90.3 per cent respectively.    
The total exports increased by 59.8 per cent and reached Rs 17.33 billion during the 10 months of the current fiscal year while the total imports increased by 28 per cent and reached Rs 160.46 billion.    
The ratio of export and import during the 10 months of the previous fiscal year was 1:11.6 while the ratio is 1:9.3 during the corresponding period of the current fiscal year.    
Nepal exported soybean oil, palm oil, woolen carpet and rugs, readymade clothes, juice, sunflower oil, cardamom, tea, pashmina shawl, dog chew, iron products, noodles, Nepali handmade paper and herbs during the 10 months of the current fiscal year.    
Although there has been a remarkable improvement in overall export during the review period, the total trade deficit has climbed to Rs 143.1 billion, up by 24.9 per cent, due to the surge in import. -- RSS   
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