Foreign trade surges by over 18.30% in 10 months; trade deficit exceeds Rs 1.25 trillion

KATHMANDU, MAY 22: In the first ten months of the current fiscal year, Nepal’s total foreign trade amounted to Rs 1,692.09 billion. According to data from the Department of Customs, this represents an 18.37 percent increase compared to the same period last year. Of the total trade during this ten-month period, imports accounted for 87.12 percent, while exports made up only 12.88 percent.

As a result, the country’s trade deficit has exceeded Rs 1.25 trillion. From mid-July to mid-May this year, such deficit stood at Rs 1,256.27 billion, while the same had  been recorded at Rs 1,107.18 billion during the same period last fiscal year

By mid-May of the current fiscal year, Nepal imported goods worth Rs 1,474.18 billion, an increase of 13.11 percent. During the same period last year, imports were recorded at Rs 1,303.35 billion.

Exports have also seen significant growth, rising by 72.71 percent during the same period. As per the department’s data, Nepal exported goods worth Rs 217.91 billion compared to Rs 126.17 billion during the same period last year.