Kathmandu, August 25 : Trade deficit in the country has gone down by an impressive 22 percent in the first month of the current fiscal, according to reports.
Such deficit plummeted by Rs 76.18 billion in the first month of 2019/20 from Rs 97.88 billion in the first month of the last fiscal.This is attributed to a dramatic fall in the import expenditure along with a surge in the export volume.
According to the reports, the goods imported between mid- July and mid- August this year amounted to Rs 85.80 billion, while the same during the corresponding period last year had stood at Rs 106.72 billion.
During the review period, the country brought petroleum products worth Rs 8.84 billion, followed by electric goods worth Rs 8.29 billion, cereals worth Rs 6.62 billion and iron and steel worth Rs 6.54 billion
According to experts, the very reduction in the size of import is a result of the fall in economic activities due to the COVID-19 pandemic.
On the other side, the export volume rose by 8.86 percent to Rs 9.62 billion. Nepal exported fat and oil worth Rs 2.30 billion, followed by tea and coffee worth Rs 1.36 billion, woolen carpets worth Rs 723.5 million and yarn worth Rs 564.8 million.
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