The export value as of 6th Jan in the fiscal year 2016-2017 was up by US$399.051 million when compared to that in the similar period of last fiscal year, according to the statistics of the Ministry of Commerce.
The value of exports through normal trade and border trade totaled US$8,464.914 million, whereas the import value was US$11,938.113 million. The external trade from 1st April to 6th January in this FY fetched US$20,403.027 million which was down from US$20724.593 million in the last FY. There is a trade deficit of US$ 3473.199 million when import outmanoeuvred exports.
The drop in external trade value is attributed to the decline in import value since the government is making efforts to reduce the trade deficit by scrutinising luxury import items, except for essential items, according to the second five-year National Development Plan.
Out of seven export sectors, mineral and manufacturing goods export declined against the export value of last FY, whereas other export products — agricultural products, fisheries products, animal products, forest product and other items managed to boost the exports.
The export values as of 6th January in this FY were US$3,843.756m in manufacturing, US$2,075.387m in agriculture, US$1,222.611m for other products, US$731.611m for minerals, US$404.366m in fisheries, US$180.794m for forest products and US$6.389m for animal products.
In the similar period, the values of import amounted to US$11,938.113m, with the export values of US$4,809.455m for capital goods, US$4,240.215m for raw industrial materials and US$2,888.443m for personal products.