Nepal's International Trade Performance: Fiscal Year 2082/83 Review

Nepal recorded a total foreign trade volume of Rs. 2,411.66 billion in Fiscal Year (FY) 2082/83, representing a 15.88 percent increase compared to the previous fiscal year.

Let us take a closer look at Nepal's international trade performance during the fiscal year.

1. Overall Trade Performance

Nepal's total foreign trade volume reached Rs. 2,411.66 billion in FY 2082/83. Of this, imports amounted to Rs. 2,096.37 billion, marking a 16.20 percent increase compared to the previous fiscal year.

On the other hand, exports totaled Rs. 315.29 billion, an increase of 13.81 percent from the previous fiscal year's export value.

As a result, Nepal recorded a trade deficit of Rs. 1,781 billion, compared to Rs. 1,517 billion in the previous fiscal year. The share of exports in total trade declined by 1.79 percentage points to 13.07 percent, while the share of imports in total trade increased to 86.93 percent.

 2. Imports

During the review period, Nepal's imports increased by 16.20 percent, reaching Rs. 2,096.37 billion, up from Rs. 1,804 billion in the previous fiscal year. The following are the top five imported commodities by import value:

3. Exports

During the review period, Nepal's exports increased by 13.81 percent, reaching Rs. 315.29 billion, compared to Rs. 277.03 billion in the previous fiscal year. The following are the top five exported commodities by export value:

This growth was achieved despite ongoing global geopolitical uncertainty. One of the major contributing factors was the rise in global commodity prices caused by geopolitical tensions, which increased the monetary value of trade even when the physical volume of traded goods is not changed so much. Beside that internal politics and election has boosted fuels imports and other consumption in nation and other factors leads in spike in trade volume.