KATHMANDU, 13 April, 2021 (TON): World Bank finding revealed on Monday that Nepal has untapped export potential worth an estimated $9.2 billion.
Nepal could boost its exports twelvefold, which represents an opportunity to create around 220,000 new jobs, the agency said.
In the last fiscal year 2019-20 ended mid-July shipments from Nepal were worth $835 million while imports valued at $10.22 billion flooded in, resulting in a gargantuan trade deficit of $9.39 billion.
The World Bank has termed Nepal’s export potential as 'missing exports' in the special focus section under the theme 'Harnessing Export Potential for a Green, Inclusive, and Resilient Recovery'.
However, it seems that this export potential represents an opportunity to create new jobs, with significant implications for productivity growth.
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