Nepal's 7-Month Import Downturn to Rs. 8.97 Kharba Sparks 2.31% Decrease; Trade Deficit Shrinks by 1.77%

In the initial seven months of the current fiscal year (Shrawan-Magh), Nepal's imports amounted to Rs. 8.97 Kharba, reflecting a marginal decrease of 2.31% compared to the same period last year when imports stood at Rs. 9.19 Kharba.

The trade deficit for the corresponding period in the current fiscal year has seen a reduction of 1.77%, totaling Rs. 8.11 Kharba, as opposed to Rs. 8.25 Kharba in the previous year.

Concurrently, Nepal experienced a 7.07% decline in exports, with a total of Rs. 86.83 Arba worth of goods and services being exported in the first seven months of the current fiscal year. This is in contrast to Rs. 93.43 Arba worth of exports during the equivalent period in the preceding year, according to data released by the Customs Department.