December 16: in the first four months of the current FY 2073/74, Nepal has imported Rs 12 worth of merchandise on Rs 1 exported merchandise. According to the foreign trade statistics of Trade and Export Promotion Centre published on Thursday, December 15, the ratio of export-import which was rested on 1:7.7 during the review period of the last FY has increased to 1:12.3 in the first four months of the current FY.

'In the current FY, total import compare to export has nearly expanded by 5 folds resulting highest export-import ratio till date. The ratio was low during the initial period of last FY due to the affect of border blockade in import, said experts. However, the ratio has surpassed the ratio of FY 2071/72 as well which was 1:8.7. It indicates that the growth rate of export compare to import during the normal period is also minimal.

Although the growth of export was below expectation, the total foreign trade of the country has significantly increased during the review period. The total trade has increased by 74.3 per cent to Rs 327.46 billion in the review period compare to the same period of the last FY. In the total foreign trade, the export and import contributes 7.5 per cent and 92.5 per cent respectively.

In the review period, the total export has increased by 13.2 per cent to Rs 24.58 billion while the import has increased by 82.3 per cent to Rs 302.88 billion, as per the statistics of the Centre. The major products that were exported from the country were woollen carpets, readymade garments, lentils polyester and other yarns. In the review period, export of woollen carpets and readymade garments were declined by 4.1 per cent and 13 per cent respectively. As usual, India and USA remains the country's major export partners.

In the review period, iron and steel and products thereof, petroleum products, transportation vehicles and parts thereof has increased significantly. In the review period, import of iron and steel and products thereof has increased by 91 per cent while petroleum and transportation has increased by 93.3 per cent and 232.1 per cent respectively. As a result, the total import has risen by 80 per cent. As per the statistics, India and China covers a huge section of Nepal's import.

The extravagant growth in import compare to export has led the country's trade deficit outgrown by nearly 93 per cent to Rs 278.3 billion in the review period.