Imports reduced marginally by 6.9%. Decline in industrial raw materials – MS Billet (50%) and Polythene granules (19.8%) are matters of concern. Crude Palm oil imports jumped 20%. Reduction in rice import (32%) is a good sign.
Exports jumped 23.9% y-o-y with a change in share of export items.
Palm Oil is now the number 1 export item in value with 23.1 % share in total export (up from 2.8 % share last year). In value terms, this has recorded 934.5 % growth. Woolen carpets and readymade garments (RMGs) and Pashmina are still in the top of the list while carpets is in the second position (7.1 % share) and RMGs are in the 7th position (3.5 % share) Pashmina are in the 9th position (7.1% share). However, exports value of all these three items has reduced.
Highest growths in exports (after Palm Oil) are in cardamom (58.4%) and Ayurvedic medicines (34.4%) followed by Polyester yarn and threads (9.7%), noodles (8.9%) and Jute goods (8.1%). Massive decline is registered in Zinc sheets (70.1%) and Wire (63.4%) followed by Rosin (23.8%).
Now, NRB has also started reporting electricity and aviation fuel exports. This year, the electricity export bill was Rs 634.2 million (no report about last year) while aviation fuel export was Rs 4,670.9 million (a decline from last year’s Rs 5,467.2 million).