Positive Export Trend

In view of ballooning trade deficit, Nepal has witnessed impressive trend in the export trade. It has recorded a double-digit growth in the first five months of the current fiscal year. Another positive thing is that the export of agricultural products, handicrafts and garments, tea and medicinal herbs has significantly increased. The country holds potential in these areas, requiring investment and incentives. The increment in the export of soybean oil, sunflower, cardamom, carpet, garments and tea and coffee has contributed to an increase in export trade during the review period. Although it is a positive indicator, the country's trade deficit has increased due to the astronomical volume of imports than exports. As per the statistics, Nepal faced a trade deficit of Rs. 579 billion during the first five months of the last fiscal year.