Trade deficit drops 12 percent


The trade deficit dropped 12.1 percent to 2,621 million rupees in the first four months of this year from 2.980.9 million dollars in 2013.

The decline in deficit was due to higher growth in exports compared to imports.

All export categories recorded a healthy growth except petroleum products.

Export of tea and garments, the country’s largest export sectors, accounting for about 60 percent of exports, increased despite the global slowdown in Europe and the US.

The Balance of Payments strengthened with the continued improvement in expatriate remittances amounting to 2,217 million dollars and income from tourism amounting to 772 million dollars during the first four months of this year.