Nepal suffers huge third country trade deficit
Sunday, 26 August 2007
KATHMANDU, Aug 25 (Xinhua): Due to a sharp rise in imports vis-a-vis exports, Nepal's trade deficit with the third countries posted a whopping 51.6 billion Nepali rupees (some 794 million US dollars) during the first 11 months of 2006-07 fiscal year ended in mid-July.
According to a provisional data released today by the trade and export promotion centre (TEPC), total exports dropped by 6.8 per cent during the period, while the imports registered a growth of 11.3 per cent.
Nepal exported various goods worth over 15.29 billion rupees (some 235 million dollars) during the period, whereas the total imports stood at 66.89 billion rupees (some 1.02 billion dollars).
TEPC has cited a number of factors-including plunge in exports of readymade garments and woolen carpets, as well as unfavourable security condition, frequent bandhs, lack of investment-friendly environment and power shortages-for a continuous fall of exports.
According to a provisional data released today by the trade and export promotion centre (TEPC), total exports dropped by 6.8 per cent during the period, while the imports registered a growth of 11.3 per cent.
Nepal exported various goods worth over 15.29 billion rupees (some 235 million dollars) during the period, whereas the total imports stood at 66.89 billion rupees (some 1.02 billion dollars).
TEPC has cited a number of factors-including plunge in exports of readymade garments and woolen carpets, as well as unfavourable security condition, frequent bandhs, lack of investment-friendly environment and power shortages-for a continuous fall of exports.