Nepal's trade loss deepens by 37.4pc

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KATHMANDU, Nov 18 (Xinhua): Nepal's Trade and Export Promotion Centre has said country's trade loss has deepened by 37.4 per cent this year, the National News Agency, RSS reported today.
Officiating Executive Director of the centre, Dinesh Chandra Gupta said Nepal's trade loss reached to 138.61 billion Nepali rupees (some 2.2 billion US dollars) in fiscal year 2006/07 ended in mid-July.
This year, export decreased by 1.2 per cent and import increased by 23 per cent, he said.
He was quoted by the RSS as saying that lapses of peace and security, interrupted electricity supply and strikes were the major causes for the deepening in trade loss.
According to him, about 70 per cent of Nepal's exports end in India while 29 per cent reach to overseas countries.