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Economy

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China import from Nepal up 29.7pct y-o-y in first 7 months

September 12, 2018


Abstract : China’s import from Nepal strode up 29.7 percent year on year to 10 million U.S. dollars in the first seven months of this year, showed data publicized by Ministry of Commerce (MOC).

BEIJING, Sept. 12 (Xinhua) – China’s import from Nepal strode up 29.7 percent year on year to 10 million U.S. dollars in the first seven months of this year, showed data publicized by Ministry of Commerce (MOC).

During the fiscal year of 2018 (from April 1, 2017 to March 31, 2018), Nepal suffered a historically high trade deficit of 10.55 billion U.S. dollars, according to statistics from Nepal’s customs authorities.

From January to July, China’s export to Nepal grew merely 10.6 percent from a year ago to 570 million U.S. dollars.

On September 7, Nepal and China concluded the protocol of Nepal-China Transit Transport Agreement (TTA) in Kathmandu, according to Nepal's Ministry of Industry, Commerce and Supply (MoICS), saying in a press statement that Nepal could utilize China's four seaports in Tianjin, Shenzhen, Lianyungang and Zhanjiang and three dry-ports in Lanzhou, Lhasa and Xigatse for trading with third countries.

The Times of India quoted an official in Nepal as saying that Nepali cargo from Japan, the Republic of Korea and other north Asian countries could be routed through China which would cut shipping time and costs. (Edited by Duan Jing, duanjing@xinhua.org)


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