Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

Export Declines to the Lowest Point till Date

  1 min 47 sec to read
Export Declines to the Lowest Point till Date
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

June 3: Exports from Nepal has declined to alarming phase due to apathy of the government. According to the statistics of custom department, Nepal has exported only 10 percent of total import in the first 10 months of current FY. As per the department, Nepal has imported Rs 599.35 billion worth of goods in the review period. In the same period, Nepal has exported Rs 54.94 billion worth of merchandise. In the review period, the proportion of export-import of Nepal has reached 11 which mean that only Rs 1 has been exported when Rs 11 worth of merchandise is imported. It is the lowest proportion till date.

The annual increase in import is verified by the statistics of Trade and Export Promotion Centre. The growth rate of export in compare to import is decreasing in the last five years. Export in the first four years was seen gradually improving. However, due to the devastating earthquake and the border blockade, export-import variations have risen significantly in the last year.  The proportion of export-import has fallen to 11 percent in FY 2071/72 which was 16 percent in the FY 2067/68.

In the recently published economical survey of FY 2072/73, the average growth rate of exported merchandised is only 7.4 percent whereas average growth rate of imported merchandised is 15.9 percent. In the same period, export in India and other countries have increased by 7.2 percent and 7.9 percent. However, during the same period, import to the same countries has increased by 18.1 and 13.5 percent. The survey has showed that total exported items in gross domestic product of 4.7 percent in the FY 2067/68 have decreased to 4 percent in the FY 2071/72. On the other side, total import in gross domestic production of 29 percent in FY 2067/68 has increased to 36.5 percent in the FY 2071/72.

Export sector entrepreneurs blame government’s apathy on lack of export promotion. They express their rage on the government’s failure to address export sector in the budget of upcoming FY.

 

 

 

 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.