Business / Economy

Nepal's imports from China down 14.1%

(Xinhua) Updated: 2016-01-25 14:34

KATHMANDU - Nepal's imports from China, Nepal's second largest trade partner, decreased by 14.1 percent during the first five months of the current fiscal year 2015-16, Nepal Rastra Bank (NRB) said on Monday.

Imports have been affected by the ongoing blockade at the southern border points and a delay in bringing the closed Khasa-Tatopani border point into operation, the central bank said.

Imports from China declined to $342 million during the first five months of the current fiscal year, which begins in mid-July, from $398 million during the same period in the previous fiscal year, according to the latest statistics from the bank.

During the normal situation, Nepal imports 25 percent of goods from China through the land route and the rest enter Nepal through the sea route via India's Kolkata Port, according to the Department of Customs.

Imports of Chinese goods through sea routes have been affected due to the ongoing blockade at the southern border point, according to NRB.

"The supply of goods through the land route has also been affected due to the delay in bringing the Khasa-Tatopani customs point, which had served as the main trade route until the deadly earthquake last year, back to operation," said Nara Bahadur Thapa, chief of research department at NRB.

Currently, the inland trade between the two neighbours is taking place through the Kerung-Rasuwagadhi trade route, which was also closed for six months after the earthquake but was reopened in October 2015.

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