MONEY»
East region exports down 10 pc
BIRATNAGAR, AUG 30 -
Exports from the eastern region were down 10 percent in the last fiscal year. A massive decline in exports to third countries was the main reason behind the poor overall export performance in fiscal 2009/10.
According to the eastern regional office of the Trade and Export Promotion Centre (TEPC), exports to India and third countries dropped by Rs. 1.18 billion (down 5.32 percent) and Rs. 1.78 billion (down 23.67 percent) respectively. Exports to India amounted to Rs. 21.1 billion in fiscal 2009/10 compared to Rs. 22.3 billion in 2008/09 while third country exports came to Rs. 5.7 billion against Rs. 7.5 billion previously.
Lentil, flour, husk, unprocessed leather, green vegetables, cardamom, ginger, fruits, tea, herbals, food snacks, GI pipe, electronic equipment, chocolate, iron pipe, polyester yarn, washing soap and aluminium wire are some of the major exports of the eastern region.
A slowdown in major exportable items like readymade garment, carpet, cotton towel, handicraft, copper wire, jute products and synthetic yarn have brought down overall exports, said the TEPC. TEPC regional chief Gaurab Kumar Karki said lentil exports plunged to Rs. 3.5 billion from Rs. 5.1 billion in 2008/09.
Bhutan and Bangladesh are the major third-country markets for the eastern region’s agro products accounting for 80 percent of its exports. Ginger, flour, husk, unprocessed leather, orange, herbals, lentil and products of Dabur Nepal worth Rs. 2.5 billion were exported to Bangladesh. Meanwhile, Bhutan bought food snacks, GI wire, shoes, transformers, iron pipes, electric wire and washing soap worth Rs. 1 billion.
The eastern region’s imports amounted to Rs. 27.1 billion from India and Rs. 15.5 billion from third countries. In fiscal 2008/09, the corresponding figures were Rs. 32.1 billion and Rs. 23.1 billion.
The eastern region ran up a trade deficit of Rs. 5 billion with India and Rs. 11 billion with third countries in fiscal 2009/10. Successive shutdowns of export-oriented industries and increasing dependency on export of agro products have been blamed for the slump.
Posted on: 2010-08-31 09:18
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