Nepal sees trade export decline by 6.9 percent

Nepal saw decline in trade export by 6.9 percent in the first five month of the fiscal year 2007/08, said a report of Nepal Rastra Bank (NRB). The export had roared by 0.2 percent in the corresponding period of the previous year.

Of the total, export to India plummeted by 9.3 percent in the first five months of current fiscal year compared to a marginal growth of 0.9 percent in the same period of 2006/07. Decline in the exports of vegetable ghee, toothpaste, chemicals, textiles and wire to India contributed to this decline, said the report. 

Exports to other countries also posted a decline of 1.4 percent in comparison to a decline of 1.2 percent in the same period of the previous year. Exports to other countries also dropped following the lower exports of woolen carpet, pashmina, readymade garments, Nepalese paper and paper products and tanned skin, according to the report.

On the other hand, total imports grew by 1.5 percent in the first five months of current fiscal year compared to a growth of 10.0 percent in the corresponding period of the previous year. Imports from India rose by 2.4 percent in the review period compared to its growth of 10.5 percent in the corresponding period of 2006/07, and imports from other countries remained stable at 9.2 percent as the comparable period in the previous year, said the report.