Compared to Same Period of Previous Fiscal Year, Nepal's National Trade Deficit Increases By 24.94%

Nepal's foreign trade statistics for the first ten months of the fiscal year 2078/79 have been unveiled. Nepal’s trade deficit rose 24.94 percent to Rs. 14.31 Kharba as against Rs. 11.45 Kharba in the previous year, the government data showed on Tuesday. The trade deficit is the amount by which the cost of a country's imports exceeds the value of its exports.

Talking about the country's exports, they crossed Rs. 1.73 kharba in a fiscal on healthy performance by sectors such as soya bean oils, fibers, palm oils, carpets, and related floor coverings, according to the customs department's data. Previously, Nepal had managed to export goods worth Rs. 1.08 Kharba. Exports have increased by 59.80 percent in the current fiscal year as compared to last year.

Here is the list of the most exported goods by Nepal during the first ten months of the Fiscal Year. (Shrawan-Baishakh) The exports value are mentioned in Rs in thousands. 

Imports during this period, saw an incline of 27.95 percent, amounting to RS. 16.04 kharba. However, In the corresponding period of the previous year, Nepal had imported goods worth Rs. 12.54 Kharba.

Diesel and Petrol remained the top imported items, with an increased demand for LPG’S, Irons, coal, and soya bean oils.

Here is the list of the top ten imported goods by Nepal during the first ten months of the Fiscal Year. (Shrawan-Baishakh) The imports value are mentioned in Rs in thousands. 

It is worth noting that raw materials and intermediates account for a considerable proportion of Nepal’s exports, while finished products have an overwhelming presence in Nepal’s imports basket. 

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

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 Turkey.