KATHMANDU: In the eight months of current fiscal year 2022/23, merchandise exports decreased 29.1% to Rs 104.80 billion against an increase of 82.9% in the same period of the previous year.
According to a recent report on the current macroeconomic situation unveiled by Nepal Rastra Bank (NRB), destination-wise, exports to India and China decreased 37.5% and 4.9% respectively while exports to other countries increased 6.0%.
Exports of zinc sheet, cardamom, particle board, woolen carpets, tea, among others, increased whereas exports of soyabean oil, palm oil, oil cakes, textiles, silverware and jewellery, among others, decreased in the review period.
Imports decrease 19.1 pc Merchandise imports decreased 19.1% to Rs1,058.39 billion against an increase of 38.6% a year ago. Destination-wise, imports from India, China and other countries decreased 17.6%, 21.7% and 21.4% respectively. Imports of petroleum products, chemical fertiliser, sponge iron, gold, other stationeries, among others, increased whereas imports of transport equipment & parts, medicine, MS billet, crude soyabean oil, telecommunication equipment and parts, among others, decreased in the review period. Based on customs points, exports from Bhairahawa, Jaleshwor, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuvan Airport Customs Offices increased while exports from all the other major customs points decreased in the review period. On the import side, imports from all the major customs points decreased in the review period.
Trade deficit down 17.9 pc The total trade deficit decreased 17.9% to Rs 953.59 billion during the eight months of current fiscal year. Such a deficit had increased 34.5% in the corresponding period of the previous year, according to NRB. The export-import ratio decreased to 9.9% in the review period from 11.3% in the corresponding period of the previous year. In the eight months of current FY, merchandise imports from India by paying convertible foreign currency amounted Rs 85.12 billion. Such amount was Rs 147.03 billion in the same period of the previous year.
Composition of Foreign Trade As per the Broad Economic Categories (BEC), the intermediate and final consumption goods accounted for 54.5% and 45.0% of the total exports respectively, while the ratio of capital goods in total exports remained negligible at 0.5% in the review period. [caption id="attachment_35230" align="alignnone" width="1000"]
Source: NRB[/caption]
In the same period of the previous year, the ratio of intermediate, capital and final consumption goods remained 47.3%, 0.02% and 52.7% of total exports respectively.
On the imports side, the share of intermediate goods remained 53.3%, capital goods 8.5% and final consumption goods remained 38.2% in the review period. Such ratios were 53.5%, 10.7% and 35.7% respectively in the same period of the previous year.
Export-Import Price Index The y-o-y unit value export price index, based on customs data, increased 4.1% and the import price index increased 6.0% in the eighth month of 2022/23. The terms of trade (ToT) index decreased 1.7% in the review month compared to a decrease of 2.2% a year ago. Net services income remained at a deficit of Rs 49.08 billion in the review period compared to a deficit of Rs.66.25 billion in the same period of the previous year. Under the service account, travel income increased 98.6% to Rs 37.12 billion in the review period which was Rs 18.70 billion in the same period of the previous year. Under the service account, travel payments increased 50.7% to Rs.76.12 billion, including Rs 54.70 billion for education. Such payments were Rs 50.50 billion and Rs 30.38 billion respectively in the same period of the previous year. READ ALSO:
Imports decrease 19.1 pc Merchandise imports decreased 19.1% to Rs1,058.39 billion against an increase of 38.6% a year ago. Destination-wise, imports from India, China and other countries decreased 17.6%, 21.7% and 21.4% respectively. Imports of petroleum products, chemical fertiliser, sponge iron, gold, other stationeries, among others, increased whereas imports of transport equipment & parts, medicine, MS billet, crude soyabean oil, telecommunication equipment and parts, among others, decreased in the review period. Based on customs points, exports from Bhairahawa, Jaleshwor, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuvan Airport Customs Offices increased while exports from all the other major customs points decreased in the review period. On the import side, imports from all the major customs points decreased in the review period.
Trade deficit down 17.9 pc The total trade deficit decreased 17.9% to Rs 953.59 billion during the eight months of current fiscal year. Such a deficit had increased 34.5% in the corresponding period of the previous year, according to NRB. The export-import ratio decreased to 9.9% in the review period from 11.3% in the corresponding period of the previous year. In the eight months of current FY, merchandise imports from India by paying convertible foreign currency amounted Rs 85.12 billion. Such amount was Rs 147.03 billion in the same period of the previous year.
Composition of Foreign Trade As per the Broad Economic Categories (BEC), the intermediate and final consumption goods accounted for 54.5% and 45.0% of the total exports respectively, while the ratio of capital goods in total exports remained negligible at 0.5% in the review period. [caption id="attachment_35230" align="alignnone" width="1000"]
Source: NRB[/caption]
In the same period of the previous year, the ratio of intermediate, capital and final consumption goods remained 47.3%, 0.02% and 52.7% of total exports respectively.
On the imports side, the share of intermediate goods remained 53.3%, capital goods 8.5% and final consumption goods remained 38.2% in the review period. Such ratios were 53.5%, 10.7% and 35.7% respectively in the same period of the previous year.
Export-Import Price Index The y-o-y unit value export price index, based on customs data, increased 4.1% and the import price index increased 6.0% in the eighth month of 2022/23. The terms of trade (ToT) index decreased 1.7% in the review month compared to a decrease of 2.2% a year ago. Net services income remained at a deficit of Rs 49.08 billion in the review period compared to a deficit of Rs.66.25 billion in the same period of the previous year. Under the service account, travel income increased 98.6% to Rs 37.12 billion in the review period which was Rs 18.70 billion in the same period of the previous year. Under the service account, travel payments increased 50.7% to Rs.76.12 billion, including Rs 54.70 billion for education. Such payments were Rs 50.50 billion and Rs 30.38 billion respectively in the same period of the previous year. READ ALSO:
Published Date: April 12, 2023, 12:00 am
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