Statistics released by the Ministry of Commerce and Supplies' Trade and Export Promotion Centre (TEPC) state that, trade deficit in Nepal for 2009-10 fiscal has gone up to Rs. 314.66 billion, which is 41.5 percent higher than in 2008-09.
During the period, whereas the country's imports surged by 29.1 percent to touch Rs. 375.61 billion, its exports depicted a fall of 11.1 percent and stood at Rs. 60.95 billion.
Overall overseas trade of the country comprises of 14 percent exports and 86 percent imports. The mounting trade deficit is mainly attributable to availability of restricted number of items on the export list, coupled with meagre sourcing ability of the country.
Moreover, such rising imports and falling exports have even caused the country to lose much of its valuable foreign currency.
Government here stated that, they are endeavouring to perk up garment and carpet exports, this fiscal.
Fibre2fashion News Desk - India
marketing@alchempro.com
