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Nepal's imports from India and China decreased by 39.2%

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Staff writer ▼ | January 28, 2016
Nepal's imports from India and China decreased by 39.2 percent and 14.1 percent respectively during the first five months of the current fiscal year.
Nepal street market
Trade results   Current Macroeconomic and Financial Situation
The Nepal Rastra Bank (NRB) said that in its report Current Macroeconomic and Financial Situation of Nepal.

Imports from other countries also decreased by 22.6 percent in the review period starting mid-July, thanks to the ongoing agitation in Tara-Madhes region and disruption at the Nepal-India border points.

Likewise, exports to India, China and other countries fell owing to the obstructions at customs points including Birgunj. The merchandise exports witnessed a negative growth of 29.1 percent to Rs. 26.17 billion in the review period, compared to a drop of 1.2 percent to Rs. 36.91 billion in the same period of the previous year, the central bank said.

Commoditywise, the import of petroleum product shrank to Rs. 18.35 billion — a significant decline of 63.2 percent from the level of Rs 49.88 billion during five months in the last fiscal.

The imports of capital, raw material and consumption goods also witnessed a significant decline, according to the NRB.