India, April 13 -- Nepal has untapped export potential worth an estimated $9.2 billion, The Kathmandu Post reported quoting a new World Bank finding.

The multilateral funding agency said Nepal could boost its exports twelvefold, which represents an opportunity to create around 220,000 new jobs.

The World Bank's annual Nepal Development Update unveiled on Monday provides a report on the country's key economic developments.

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 agency report said.

In Nepal, the fiscal year is 1 Shrawan (fourth month of the Bikram calendar) to 31 Ashad (th...