KATHMANDU, MAY 20
As of the end of the month of Baisakh (mid-May) of the current financial year, the country has suffered a trade deficit worth Rs 1177 billion.
Goods worth Rs 1303 billion were imported, while exports were limited to just Rs 126 billion, according to the Department of Customs.
In the first 10 months of the current financial year, the country saw foreign trade transactions worth Rs 1429 billion, a decline of 2.50 percent compared to the corresponding period of the previous financial year. Furthermore, imports decreased by 2.39 percent and exports by 3.61 percent during the same period.
During the review period, Nepal suffered a trade loss of Rs 729 billion with India. Goods worth Rs 815 billion were imported into Nepal from India, while exports to India from Nepal were a mere Rs 86 billion.
Likewise, the second highest foreign trade deficit was recorded with neighboring China, amounting to Rs 238 billion. In 10 months, China exported goods worth Rs 240 billion to Nepal, while it imported goods worth only Rs 22.74 billion from Nepal.
As of mid-May, the largest imports were petroleum products, including petrol worth Rs 115.67 billion, diesel worth Rs 56.80 billion, and cooking gas worth Rs 46 billion. Additionally, Nepal imported mobile phones worth Rs 24 billion during the same period.
Nepal's highest export was carpets, worth Rs 8.79 billion, followed by cardamom worth Rs 6.91 billion, iron worth Rs 5.52 billion, and palm oil worth Rs 5.60 billion.
