Nepal has recorded a trade deficit of Rs 1177 billion, according to the latest figures from the Department of Customs as of mid-May.

The country’s imports far outpaced its exports, with goods worth Rs 1303 billion imported, while exports were limited to just Rs 126 billion.

In the first ten months of the current financial year, Nepal’s total foreign trade transactions amounted to Rs 1429 billion, reflecting a 2.50 percent decrease compared to the same period in the previous financial year. Both imports and exports saw declines, with imports dropping by 2.39 percent and exports by 3.61 percent.

Nepal experienced a trade loss of Rs 729 billion with India, importing goods worth Rs 815 billion while exporting only Rs 86 billion in return.

The second highest trade deficit was with China, amounting to Rs 238 billion. During the ten-month period, Nepal imported goods worth Rs 240 billion from China and exported just Rs 22.74 billion.

Nepal imported petroleum products valued at Rs 115.67 billion, diesel at Rs 56.80 billion, and cooking gas at Rs 46 billion. Rs 24 billion worth mobile phones were imported in the same period.

Nepal exported carpets worth Rs 8.79 billion which are also highest revenue generating product. Other exports included cardamom (Rs 6.91 billion), iron (Rs 5.52 billion), and palm oil (Rs 5.60 billion).

With inputs via RSS