Nepal's Foreign Trade Increases by 14.75% in First 10 Months of FY 2082/83, Trade Deficit Widens

Kathmandu. Nepal's foreign trade has increased in the first 10 months (Shrawan-Baishakh) of the current fiscal year 2082/83. However, as the growth rate of imports is higher than exports, the country's trade deficit has also increased by approximately 15 percent.

According to the 10-month data released by the Department of Customs, the total foreign trade of Nepal has increased by 14.75 percent to Rs 19 kharba 41 arba 60 crore in this period. In the same period of the last fiscal year 2081/82, the total trade was worth Rs 16 kharba 92 arba 9 crore.

 According to the data, goods worth Rs 16 kharba 92 arba 64 crore have been imported in the 10 months of the current fiscal year. This is 14.82 percent more than in the same period last year. Last year, imports were worth Rs 14 kharba 74 arba 18 crore in the same period.

Similarly, there has been an improvement in exports as well. Exports have increased by 14.25 percent to Rs 2 kharba 48 arba 96 crore during this period. Last year, exports were worth Rs 2 kharba 17 arba 91 crore in the same period. However, the data shows that the volume of exports is extremely low compared to imports.

Due to the high increase in imports, the country's trade deficit has increased by 14.92 percent to Rs 14 kharba 43 arba 67 crore. In the first 10 months of the last fiscal year, this deficit was Rs 12 kharba 56 arba 27 crore.

According to the data, the share of imports in Nepal's total foreign trade has reached 87.18 percent, while the share of exports has decreased to 12.82 percent. Last year, the share of exports was 12.88 percent.

The import-export ratio has reached 6.80 during this period. This means that for every 1 rupee worth of goods Nepal exports, it imports goods worth 6 rupees 80 paisa. Last year, this ratio was 6.77.