KATHMANDU, JULY 8
Nepal's total trade deficit rose by 6.3% to Rs 1,397.23 billion in the first 11 months of the current fiscal year 2024/25, according to the latest macroeconomic and financial report published by Nepal Rastra Bank (NRB). In contrast, the deficit had decreased by 1.7% in the same period last year.
Merchandise imports grew by 13.1% to Rs 1,644.80 billion, compared to a decline of 1.8% a year ago. Imports from India, China, and other countries increased by 7.6%, 15.3%, and 29.5% respectively. Key imports included crude soybean oil, rice/paddy, transport equipment, vehicle parts, edible oil, and sponge iron. However, imports of petroleum products, gold, electrical equipment, fertilizers, and coal declined.
The export-import ratio improved to 15.1% from 9.6% last year, with exports surging by 77.8% to Rs 247.57 billion, reversing a 3% drop in the same period last year. Exports to India jumped 112.6%, while exports to China and other countries rose by 3% and 4.4% respectively. Items such as soybean oil, polyester yarn, jute goods, tea, and rosin saw an increase in exports, while palm oil, zinc sheets, juice, garments, and cardamom exports declined.
Exports through customs points like Bhairahawa, Biratnagar, Birgunj, and Tribhuvan Airport increased, while others saw a drop. Imports declined from Jaleshwor and Tribhuvan Airport but rose across all other major customs points.
Goods imported from India using convertible foreign currency stood at Rs 167.30 billion, up from Rs 137.13 billion in the same period last fiscal year.
