Stories Tagged 'Trade deficit'
Nepal’s trade deficit swelled to Rs349.84 billion in the first quarter of the current fiscal year. The figure represents a 46 percent increase in the negative trade balance compared to the same period in 2017-18.  
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The government has decided to raise the import quota of gold by additional 5 kg per day to 25 kg, raising alarm bells about the country’s trade deficit which has ballooned out of control due to excessive rise in import bills.
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The runaway trade deficit cannot be checked without radical steps to reduce imports
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In August this year, trade treaty review committees of Nepal and India sat down together in New Delhi to comprehensively review the Nepal-India Trade Treaty. The bilateral treaty was last revised back in Oct, 2009. The main agenda of the meeting was to discuss ways on how the two countries could narrow down Nepal’s increasing trade deficit with India.
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Finance Minister Yuba Raj Khatiwada said that the government has revised the tariff rates on a number of goods in a bid to safeguard domestic production and promote exports that is expected to reduce the widening trade deficit.
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The country’s trade deficit widened 26.7 percent in fiscal 2017-18 to Rs1,161.63 billion due to slow growth in export earnings and a steep jump in the import bill.
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