Nepal’s trade deficit has widened by 11.2 percent, or Rs.5.8 billion, but the exports has rose up by 9.1 percent, or Rs.11.7 billion, during the first three months of the fiscal year 2003-04, a statement from Nepal Rastra Bank (NRB), the central bank, said Monday.

Last year, Nepal’s exports had declined by 29.1 percent, according to the central bank statistics.

The exports to India witnessed an increase of 12.1 percent, or Rs.6.2 billion in contrast to the decline of 29.7 percent during the same period last year, NRB said. “Exports to other countries which had declined by 3.2 percent last year, increased by 5.8 percent, or Rs.5.5 billion.”

The total exports to the third countries increased on account of the improved exports of pulses, metal, handicraft goods, tanned skin, Nepali paper and woolen carpets, the statement said.

“In contrary, the total import increased by 19.3 percent, or Rs.32.3 billion against the decline of 0.1 percent last year. Indian imports increased by 12.3 percent, while the third countries import went up by 29 percent,” said the statement.

Similarly, foreign grants increased substantially to Rs.621.9 million in contrast to the inflow amounting to Rs.120.7 million last year, according to the statement. nepalnews.com mr Dec 30