Surge in imports and less than expected performance of major exportable commodities in the international market have widened the Nepal's trade deficit by 51 percent during the first four months of 2005/06 fiscal year, according to a central bank report reaching here Friday.

According to the report from Nepal Rastra Bank, the central bank of the country, the deficit for the period is valued at 35.74 billion Nepali rupees (510 million U.S.dollars).

During the same period of 2004/05, trade deficit was 23.66 billion rupees (338 dollars), down by 8.3 percent as compared to the similar period of the previous year.

A significant surge in imports by 36.5 percent and relative to a rise in export by 17.2 percent widened trade deficit in four months of the 2005/06 fiscal year, which started on July 16, 2005, the report stated.

With the rise, the total merchandise import of the country touched 808 million U.S.dollars from 592 million dollars, while export totaled 298 million dollars as against 254 million dollars during the same period last year, the report stated.

Source: Xinhua