Nepal’s Export Increasing, Import Declining

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Nepal’s Export Increasing, Import Declining

January 22: Exports in the first six months of the current Fiscal Year 2077/78 have increased while there has been a decline in imports of foreign goods. 

Citing the data released by the Department of Customs, the state-run National News Agency (RSS) said imports declined by 5 percent while exports increased by 6 percent in the first six months (mid-July to mid-December) of the current fiscal year. According to the statistics of the department, foreign goods worth more than Rs 661.24 billion have been imported in the first six months of the current fiscal year.

Comparatively, it is 4.81 percent less than the import during the same period of last year. In the corresponding period of the previous year, foreign goods worth Rs 694.69 billion were imported, RSS reported.

Similarly, domestic goods worth Rs 60.79 billion have been exported in the last six months. Exports have increased by 6.14 percent compared to the same period of last year.  In the corresponding period of the previous year, goods worth Rs 57.27 billion were exported from Nepal. According to the data, the trade deficit has narrowed by 5.80 percent this year.

The department has collected revenue of Rs 187 billion so far this year. The department has set a target of collecting Rs 440 billion revenue this year.

 

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