Nepal's Economy in a Glimpse: We Import Energy, Technology, and Infrastructure While Exporting Agricultural Products

Nepal's foreign trade statistics for the first seven months of the fiscal year 2077/78 have been unveiled.

According to the data unveiled by the Finance Ministry, import has increased a meager 0.01% compared to the same time period in the previous fiscal year. Meanwhile, export has increased by an impressive 7.61%. This has resulted in an improvement in the trade deficit. Data shows that the trade deficit has been decreased by -0.66% with an increase in exports and a mere tiny increase in imports.

Nepal imported the highest worth of goods from India. China is the second-largest exporter of Nepal, followed by the UAE and Argentina.

On the other side, Nepal exports the most goods to India. The USA is the second-largest importer of Nepalese products. It is then tailed by Germany, which is tailed by the UK.

Diesel is the most imported product in Nepal, with a revenue generation of Rs. 26,12,07,16,000. Meanwhile, Soya-bean oil (excl. crude) and fractions are our top exported products. Alaichi is the second-most exported product in terms of the monetary amount.

These are our top 5 imports:

1) Diesel
2) Semi-finished products of iron or non-alloy steel
3) Telephones for cellular networks or for other wireless networks.
4) Crude soya-bean oil
5) Liquified Petroleum Gas (LPG)

These are our top 5 exports:

1) Soya-bean oil (excl. crude) and fractions
2) Alaichi
3) Carpets and other textile floor coverings
4) Black tea
5) Felt

The data shows that Birgunj is the major custom checkpoint from where the most import and export happens. Meanwhile, Nepal imported the second-most amount of goods from Bhairahawa and exported the second-most amount of goods from Biratnagar.