Nepal's Trade Deficit At Rs. 12.04 Kharba for First 10 Months of FY 079/80; Both Import and Export Declines
Mon, May 22, 2023 11:20 AM on Latest,
The trade deficit of Nepal remains at Rs. 12.04 Kharba for the first ten months of the ongoing fiscal year.
According to Nepal Trade Statistics unveiled by the Department of Customs (DoC) today, the trade gap of Nepal shrunk by 15.85 % from 14.31 Kharba in the first 10 months of the past fiscal year (Shrawan to Baisakh) to reach Rs. 12.04 Kharba.
Similarly, compared to the same period of the FY 2078/79, both import and export has decreased by 16.78 % and 24.49 %, respectively.
Up to Baisakh of FY 2079/80, the import stands at Rs. 13.35 Kharba while the country exported goods worth Rs. 1.3 Kharba.
Petroleum products were the top import commodity, followed by crude soya bean oil and crude palm oil. But, at the same time, Nepal's exports saw a bigger drop year-on-year in the review period, as per the DoC report.
Note: The present data is based on First Ten Months (Shrawan-Baishakh) of FY 2079/80 (Mid July 2022 to Mid May 2023)
| SN | Trade Indicators | FY 2078/79 (First 10 Months) | FY 2079/80 (First 10 Months) | Change (%) |
|---|---|---|---|---|
| 1 | Imports (Rs.in `000) | 1,604,652,517 | 1,335,322,462 | -16.78 |
| 2 | Exports (Rs.in `000) | 173,348,212 | 130,900,037 | -24.49 |
| 3 | Trade Deficit (Rs.in `000) | 1,431,304,306 | 1,204,422,425 | -15.85 |
| 4 | Total Foreign Trade (Rs.in `000) | 1,778,000,729 | 1,466,222,499 | -17.54 |
| 5 | Imports/Exports Ratio | 9.26 | 10.20 | 10.20 |
| 6 | Exports Share to Total Trade (%) | 9.75 | 8.93 | -8.43 |
| 7 | Imports Share to Total Trade (%) | 90.25 | 91.07 | 0.91 |
