Stories Tagged 'Trade deficit'
The budget statement was vague about actions to cut Nepal’s trade deficit with India
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Nepal’s trade deficit swelled to a record high of over Rs1 trillion in the first 11 months of the current fiscal year on the escalating import expenses and slow progress in earnings from exports.
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Outflow of funds from the country’s economy surpassed inflows by Rs24.7 billion in the first eight months of the current fiscal year, as country’s trade deficit widened by over 23 percent.
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President Bidya Devi Bhandari has expressed her concern over growing trade deficit in the nation.
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Nepal’s trade deficit with South Asian countries widened by a whopping 51.2 percent in the first nine months of the current fiscal year driven by massive hike in imports from countries such as India, Pakistan and Bangladesh.
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Trade deficit against gross domestic product (GDP) more than doubled in less than a decade, with imports outperforming exports.
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