Exports to India increased by 36 percent in three months

Kathmandu : Exports to India have increased. The export to India has gone up by 35.8 percent in the three months of the current fiscal year.

Nepal Rastra Bank (NRB), the central bank, stated that the trade deficit with India has decreased with the increase in export to the southern neighbour in the last three months.

However, exports to China and other countries have decreased. Trade deficit with India last fiscal year was Rs 764.3 billion. Although export to China and other countries has gone down  by 19.9 percent and 11.7 percent respectively in the current fiscal year, the total export in the same period has increased by 14.4 percent, NRB stated.

Export to India until October 17 in the fiscal year 2019/20 was equivalent to Rs 27.17 billion. Nepal’s export to India includes palm oil, cardamom, ayurvedic medicines, jute products, yarn (polyster and others) which has increased while the export of goods like corrugated zinc sheets, juice, readymade garments, woolen carpets, wire etc. to China and other countries has decreased.

Meanwhile, the total imports has decreased by 10.03 percent and reached Rs 334.95 billion  in the last three months of the current fiscal year. This import had increased by 43.06 percent in the corresponding period of the previous year.

On the basis of the countries from where foods are imported, the import from India and othjer countries has decreased by 12.02 percent and 19.01 percent respectively whereas imports from China has increased by 11.06 percent, according to NRB.

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