The Trade and Export Promotion Center (TEPC) said the export-import ratio stood at 1:7.9 of Rs 618.93 billion worth of total trade reported during the review period.
Nepal imported merchandise worth more than Rs 508 billion till the end of the 11th month of the current fiscal year, which is Rs 104 billion more than the total allocated expenditure of the government, as stated in the annual budget for fiscal year 2012-13. During the period, merchandise exports went up by four per cent to Rs 69.93 billion. A year back, exports had increased by 16.3 per cent to Rs 67.21 billion.
Rise in exports was recorded at a marginal rate of 1.9 percent while imports jumped by 22.7 percent compared to the corresponding period last year.
During the review period, exports of woolen carpet and readymade garments dropped by 13 percent and 16.3 percent to Rs 5.1 billion and Rs 3.33 billion respectively. However, exports of iron products increased by 2.6 percent to Rs 10.73 billion while export of polyester yarn decreased by 8.9 percent to Rs 5.28 billion.
Import of petroleum products increased by 15.9 percent to Rs 100.58 billion, transport vehicles by 37.3 percent to Rs 29.9 billion and electric/electronic goods by 12.4 percent to Rs 21.76 billon during the review period compared to last year same period.
Despite the widened trade deficit, overall Balance of Payments recorded a surplus of Rs 52.69 billion during 11 months of the fiscal year. The surplus BoP has increased foreign exchange reserve by 16.4 percent to Rs 511.69 billion in mid-June 2013. On the basis of import trend in the 11 months of the current fiscal year, the Nepal Rastra Bank estimates that the current level of reserve is sufficient for financing merchandise imports for 11.3 months, and merchandise and service imports for 9.7 months.
Meanwhile, the rate of rise in general price level stayed below double digits in the 11 months of the current fiscal year. According to Nepal Rastra Bank’s inflation data, the year-on-year inflation stood at 8.2 per cent by mid-June. In the corresponding period of the previous year, it stood at 9.9 per cent.
The prices of food and beverages increased by 7.7 per cent, whereas non-food and services group prices went up by 8.6 per cent during the review period. Both these indices had increased by 9.9 per cent and 7.8 per cent, respectively, in the corresponding period of the previous year.
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