Nepal’s Foreign Trade Reaches Rs 1,692 Billion in 10 Months of FY 2024/25

Nepal’s total foreign trade has reached Rs 1,692 billion in the first ten months of the current Fiscal Year 2024/25, reflecting a significant 18.37% growth compared to the same period last year, according to the latest data published by the Department of Customs (DoC).

During the corresponding period in the previous fiscal year, Nepal’s foreign trade amounted to Rs 1,429.53 billion. This year’s rise in trade volume is attributed to notable growth in both imports and exports.

Out of the total foreign trade volume, imports accounted for Rs 1,474.1 billion, making up 87.12% of the total trade, while exports amounted to Rs 217.91 billion, contributing 12.88%. The trade composition continues to reflect Nepal’s heavy reliance on imported goods.

As a result, the country’s trade deficit has surpassed Rs 1.25 trillion. Specifically, by mid-April 2025, Nepal recorded a trade deficit of Rs 1,256 billion. This marks an increase from the same period last fiscal year, when the trade deficit stood at Rs 1.18 trillion.

Nepal’s imports rose by 13.11% compared to the same period last year, when the country had imported goods worth Rs 1,334 billion. The rise in imports underscores the persistent domestic demand for foreign goods, particularly industrial raw materials, fuel, machinery, and consumer goods.

On the other hand, Nepal’s exports have shown remarkable improvement. The country exported goods worth Rs 217.91 billion by mid-April, registering a sharp 72.71% growth compared to the Rs 126.17 billion in exports recorded during the same period last fiscal year.

The surge in exports is a positive indicator for Nepal’s trade sector, suggesting increased production capacity, diversification of export goods, and possibly improved international market access. However, the continued dominance of imports and the widening trade deficit highlight the structural imbalance in Nepal’s trade economy.

Experts emphasize the need for stronger domestic production, import substitution strategies, and export promotion policies to reduce the trade deficit and strengthen Nepal’s economic resilience.

The Department of Customs continues to monitor trade activities and is expected to release updated figures as the fiscal year progresses.