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May31
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In the first 8 months of the current fiscal year (July 16, 2005-July 15, 2006) foreign trade has increased 24% for Nepal compared to the same period of last year. However, no one in Nepal can feel any happiness in this increase because of the fact that this increase has mainly come through high increase of import. Import increased 27.9% while export increased only 14.7%. So, naturally balance of trade went against the country even further. Trade deficit for the country is $1.06 billion which is quite higher than $772.86 million of this time last year. Bilateral trade with India is increasing very fast for the country.
The current fiscal year has not been a good one for Nepal so far. On the one hand, there was continuous political instability until last month. On the other hand, rising price of oil in the international market is hurting Nepalese economy is Nepal is a net importer of oil. So, Nepal should invest on biogas more.
Don't you agree with me?
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