KATHMANDU, Sept. 15 (Xinhua) -- Mobile sets and telecommunication equipment topped the chart in Nepal's imports from China in the last fiscal year 2018-19 that concluded in mid-July, Nepal's central bank said.
According to recently unveiled report on macroeconomic and financial situation of the Himalayan country, Nepal Rastra Bank stated that mobile sets and telecommunication equipment; readymade garment; electrical goods' machineries and parts and television and parts occupied the top five position in terms of volume of imports from China.
The Himalayan country imported total goods worth 1.8 billion U.S. dollars as of last fiscal from China as the northern neighbour became second largest trading partner of the Himalayan country.
Nepal imported mobile sets and telecommunication equipments worth 200 million U.S. dollars topping the chart followed closely by the import of readymade garments worth 184 million U.S. dollars.
The Himalayan country imported electrical goods worth 178 million U.S. dollars, machineries and parts worth 166 million U.S. dollars and television and parts worth 90 million U.S. dollars. These five items covered nearly half of the total imports from China as their combined value stood at 818 million U.S. dollars, according to Nepal's central bank's statistics.
"Telecommunications, electrical and electronic items are dominant in total import from China," Gunakar Bhatta, chief of the research department, at Nepal's central bank, told Xinhua on Saturday. Most of the mobile sets manufactured in China are imported to Nepal and Chinese companies like Huawei and ZTE are involved in Nepal's telecom equipment businesses.
But readymade garment is also an important component of imports being imported from China. Although Nepal also imports garments from various other countries, China has remained dominant in terms of sheer volume of imports. "We are heavily dependent on China for readymade garments which are cheaper and affordable," Bachhu Poudel, president of Nepal Trans Himalayan Border Commerce Association, a grouping of traders involved in export-import between the two countries.
As Dashain, the biggest festival of Nepali Hindus, is approaching, Nepali traders have imported readymade garments in large volumes because the garments are heavily sold during this festival.
In the last fiscal year, Nepal exported goods worth 18 million U.S. dollars to China, a meager figure compared to imports, according to the central bank report.
