Nepal’s Export to China Up By 72 Percent

Nepal’s export to China increased by 72% in the first seven month of the current fiscal year, reports Xinhuanews.

The Details:

• A report by the Nepal Rastra Bank (NRB) titled “Current Macroeconomic and Financial Situation” showed that Nepal exported goods worth US Dollar 17 million to China in the seven months from mid-July 2017.
• This amount shows an increase of 72.3% over the same period of the last fiscal year.
• Nepal has been exporting products such as wheat flour, tea, noodles, handicrafts and pashmina.
• According to the report, Nepal witnessed a trade deficit of 5.88 billion U.S. dollar from mid-July 2017.

Why it matters:

• With Nepal struggling to reduce the increasing trade deficit, the rise in exports to China has come as a relief.