Laxmi Capital News
Biratnagar becomes largest export gateway of the country

Biratnagar Customs Office became the largest exportgateway of the country in the first eight months of FY 2017/18, a recent tradedata published by the Department of Customs shows.

Nepal exported goods worth Rs 16.33 billion through thecustoms point the first eight months of the last fiscal year - 30.58 percent ofthe country's total exports. Tribhuvan International Airport (TIA) CustomsOffice, which was the country's largest gateway in the review period ofFY2016/17, stood in the second position with total exports of Rs 14.75 billionor 27.62 percent of the total exports, the data shows. 

In the first eight months of FY2016/17, TIA CustomsOffice saw exports worth Rs 13.97 billion, or 29.04 percent of total exports,compared to Rs 13.93 billion, or 28.95 percent of total exports, throughBiratnagar Customs Office. 

According to the data, total worth of goods handled byBiratnagar Customs Office increased year-on-year by 17.2 percent in the firsteight months of FY2017/18.

The country exported goods worth Rs 53.42 billion in thefirst eight months of FY2017/18 - a rise of 10.96 percent more than theprevious fiscal year, the data shows. Total export in the same period ofFY2016/17 through 16 customs offices across the country was worth Rs 48.14billion. The customs offices -- Jaleshwar, Kanchanpur and Siraha - did not seeany export at all in the review period.

Meanwhile, the country's import and export ratio in thefirst eight months of FY 2017/18 stood at a record 14.4:1 which means Nepalimports 14.4 times of what it exports. 
Total exports increased by a whopping 22.28 percent to Rs 767 billion in thefirst eight months of 2016/17. According to the data, Nepal had imported goodsworth Rs 627 billion in the first eight months of FY 2016/17. 

Revenue Secretary Shishir Dhungana said that exports viaBiratnagar Customs Office is increasing as the eastern city has seenimprovement in infrastructure like road networks in recent years. "It isnatural for exporters to choose easier route," he added.

Dhungana also said that both agro and non-agro productshave been exported via Biratnagar Customs Office in huge quantity "Exportof products like corrugated sheets and cardamom increased significantly,"he added. "However, what matters most is the volume of exports, not fromwhere the goods are being an exporter." 

Source : My Republica, 23rd April 2018

Click here to download...!