Export doubles yet remains as One-Seventh of Imports

Kathmandu / Sept. 25: In the first two months of the current fiscal year (FY), export rose by 115.43 per cent in comparison to the same period of the previous FY.

According to the Foreign Trade Statistics (FTS) released by the Department of Customs on September 25, in the first two months of the current (FY) the sum of exports recorded was Rs. 44.03 billion up from the amount of Rs. 20.44 billion in the same period of the previous FY.

Despite the doubling of the exports, huge imports have kept the trade deficit widening. The imports grew up by 75.86 per cent in the first two months in comparison to the same period of the previous FY.

The FTS revealed that import amount accumulated to Rs. 314.5 billion in the first two months of current FY up from Rs. 178.84 billion in the same period of the previous FY.

The FTS showed that a magnificent amount of imports relative to the size of export is the main impetus to an ever-expanding trade deficit. The FTS presented that the amount of imports in the first two months is 7 times the amount of the exports. The exports amounted to Rs. 44.03 billion while the imports crossed Rs. 314.5 billion in the first two months of the current FY.