However, the increase of export is limited to only 1.9 percent. According to the Export Promotion Centre, the foreign trade volume reached Rs. 618.93 billion in 2069-70 BS with an increase of 20 percent as compared to the 11 months of the previous fiscal year. [break]
The contribution of export and import is 11.2 and 88.8 percent respectively.In the reviewed period, export increased by 1.9 percent and reached Rs. 69.3 billion and import by 22.7 percent and reached Rs. 549.63 billion.
In the eleven months of 2068-69 BS, the export- import trade ratio was 1:6.6 and in 2069-70 BS, it was 1:7.9. Nepal exported carpet, garments, musuro pulse, polyester and other yarn, textile, and iron and steel products, handicrafts, ornaments, noodles, toothpaste, cardamom, tea, ginger, betel nuts, Nepali paper, leather and pashmina shawl, the Centre said.
In the period, carpet export came down by 13 percent to 5.1 billion rupees and garments by 16.3 percent to 3.33 billion rupees.
The main cause of trade deficit is said to be import of petroleum. The import of petroleum reached worth Rs. 158 billion with an increase of 15.9 percent in 2069-70 BS. The trade deficit had reached 480 billion rupees in the same period.
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