Exports grow by more than 72 percent

KATHMANDU, JUNE 10: During the first ten months of the fiscal year 2024/25, Nepal’s total merchandise exports surged by 72.7 percent, reaching Rs 217.91 billion. In contrast, the exports during the same period last year had declined by 3.6 percent.

According to data released by Nepal Rastra Bank, the exports to India,  China, and other countries increased by 104.7 percent, 5.1 percent, and 4.2 percent, respectively. On a commodity basis, the exports of soybean oil,  polyester yarn, tea, jute products, and turpentine saw notable growth. However, the exports of palm oil,  zinc sheets,  ready-made garments,  juice, and cardamom declined.

In Baisakh (mid-April to mid-May), total merchandise imports increased by 13.1 percent, reaching Rs 1,474.19 billion. During the same period last year, imports had declined by 2.4 percent.  Based on the countries of origin, imports from India,  China, and other countries rose by 7.9 percent, 15.1 percent, and 28.3 percent, respectively.

Major items that saw increased import volumes included crude soybean oil,  rice/paddy,  edible oils, transport equipment, vehicles and spare parts, and sponge iron. Meanwhile, imports of petroleum products, gold, electrical equipment, chemical fertilizers, and coal declined.

Exports increased through all major customs points except Jaleshwar, Kanchanpur, and Tatopani. On the import side, major customs points—Bhairahawa, Biratnagar, Birgunj, Dry Port, Jaleshwar, Kailali, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa, Tatopani, and Tribhuvan International Airport—all recorded higher import volumes.

Trade deficit and export-import Ratio

Nepal’s total merchandise trade deficit increased by 6.7 percent, reaching Rs 1,256.28 billion. In the same period last year, the trade deficit had decreased by 2.3 percent. The export-import ratio rose to 14.8 percent, up from 9.7 percent in the corresponding period last year.

Goods worth NPR 152.48 billion were imported from India by paying in convertible foreign currency, compared to NPR 122.02 billion in the same period last year.