Nepal has recorded merchandise exports worth Rs 118.28 billion in nine months of current fiscal year 2022/23. This is a decrease of 26.3% against an increase of 69.4% in the same period of previous FY, according to a report about the current macroeconomic and financial situation released by Nepal Rastra Bank on Wednesday.
Destination-wise, merchandise exports to India decreased 35.1% while exports to China and other countries increased 2.2% and 8.1% respectively. Exports of zinc sheet, particle board, cardamom, woollen carpets, and readymade garments, among others, increased whereas exports of soyabean oil, palm oil, oil cakes, textiles, jute goods, among others, decreased until mid-April.
In nine months of current FY, merchandise imports decreased 18.1% to Rs 1,201.51 billion against an increase of 32.0% a year ago. Destination-wise, imports from India, China and other countries decreased 16.4%, 23.0%, and 19.4% respectively.
Imports of chemical fertiliser, sponge iron, petroleum products, gold, paper, among others, increased whereas imports of transport equipment and parts, medicine, MS billet, telecommunication equipment and parts, other machinery and parts, among others, decreased in nine months.
Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport Customs Offices increased while from all other major customs points decreased. Likewise, imports from all major customs points decreased until mid-April.
The total trade deficit decreased 17.1% to Rs 1083.23 billion in nine months. Such a deficit had increased 28.5% in the corresponding period of previous FY. The export-import ratio decreased to 9.8% from 10.9% until mid-April.
During nine months, merchandise imports from India by paying convertible foreign currency amounted Rs 101.67 billion. Such amount was Rs 167.53 billion in the same period last year.
