Nepal’s import/export ratio with China much more worse than with India
Sujit Mainali / April 14, 2016
In the “Fireside” program aired on Kantipur Television, Minster for Commerce Deepak Bohara, who is also the minister for labor and employment, said the following:
- Nepal’s import/export ratio with China is 44:1.
- Nepal’s import/export ratio with India is 10:1. We import goods worth Rs 500 billion from India while our export to the country stands at about Rs 20 billion.
- Around four million [Nepali] youths are abroad.
- Remittances contribute to around 29 percent to Nepal’s GDP.
South Asia Check has examined these statements.
First statement: Nepal’s import/export ratio with China is 44:1
The latest yearly report on Nepal’s foreign trade is “Nepal Foreign Statistics 2014/15” prepared and released by the Ministry of Finance. According to this report, Nepal’s total export to China stood at around two billion rupees (Rs 2,060,722,000) in the fiscal year 2014/15. In the same year, Nepal’s imports from China totaled more than 99 billion rupees (Rs 99,281,429,000). In that year, Nepal’s import/export ratio with China was 48:1.
Thus, Minister Bohara’s statement about Nepal/China import-export ratio is almost correct.
Second Statement: Nepal’s import/export ratio with India is 10:1. We import goods worth Rs 500 billion from India while our export to the country stands at about 20 billion.
According to “Nepal Foreign Statistics 2014/15”, in the fiscal year 2014/15 Nepal’s export to India totaled more than 55 billion rupees (Rs 55,675,107,000), whereas Nepal’s import from the country was more than 507 billion rupees. Nepal-India import/export ratio in the year was 9:1.
Thus, Minister Bohara is almost correct in saying that Nepal’s import/export ratio with India is 10:1.
He is totally correct in saying that Nepal’s yearly imports from India totaled 500 billion rupees. But his statement that Nepal’s export to India stood at just 20 billion rupees is wrong.
Third Statement: Around four million [Nepali] youths are abroad.
A report titled “State of Migration in Nepal” released on 2014 by a Kathmandu-based Center for the Study of Labor has estimated that more than four million Nepali migrants are abroad.
Thus, this statement of Minister Bohara is correct.
Fourth Statement: Remittances contribute to around 29 percent to Nepal’s GDP.
According to the World Bank, the contribution of remittances to Nepal’s GDP was 29.2 percent in 2014.
According to the yearly report released by the Ministry of Finance, the contribution of remittances to the GDP was 28 percent in the fiscal year 2013/14.
Therefore, this statement of Minister Bohara is also correct.
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