Nepal Reports Trade Deficit with 134 Countries in FY 2082/83
Kathmandu. Nepal has incurred a trade deficit with 134 countries in the fiscal year 2082/83. A report based on the data from the Department of Customs, released on Thursday, shows this. According to the data, Nepal's trade has been profitable with only 28 countries this year.
Overall, Nepal's total trade deficit reached 17 kharba 81 arba 8 crore rupees during the review period. During this period, Nepal imported goods worth 20 kharba 96 arba rupees while managing to export only about 3 kharba 15 arba rupees. Nepal's largest trade deficits are with neighboring countries India with 9 kharba 51 arba rupees and China with 4 kharba 23 arba rupees.
Countries with the Largest Trade Deficit
A large portion of Nepal's total trade deficit is concentrated with a limited number of countries. Specifically, Nepal is facing trade deficits of trillions with two neighboring countries and some third countries.
Nepal's largest trade deficit is with India. During this period, Nepal imported 12 kharba 10 arba rupees from India while exporting only 2 kharba 58 arba rupees. Thus, Nepal's trade deficit with India alone stands at 9 kharba 51 arba rupees.
The second largest deficit is with China. Imports from China amounted to 4 kharba 25 arba rupees, while exports were only 1 arba 89 crore rupees. Nepal's deficit with China is 4 kharba 23 arba rupees.
After the neighboring countries, Nepal faces the largest deficit with Argentina. Imports from Argentina amounted to 1 kharba 16 arba 38 crore rupees, while exports sent there were only 18 thousand rupees. The deficit with Argentina is above 1 kharba 16 arba rupees. Oil-based products are imported from here.
Besides these, Nepal has incurred trade deficits of 50 arba 32 crore rupees with the United Arab Emirates (UAE), 21 arba 92 crore with Indonesia, 18 arba 32 crore with Thailand, 18 arba 26 crore with Australia, 17 arba 70 crore with Brazil, 15 arba 26 crore with Malaysia, and 11 arba 94 crore rupees with America.
Countries Profitable in Trade
Looking at the list of the limited 28 countries where Nepal has made a trade profit, an interesting fact emerges. Most of the countries with which Nepal has a trade surplus are European and small island nations. Nepal's imports from these countries are not significant; most of the trade appears to be exports.
Nepal has earned the most trade profit with Denmark. While imports from Denmark were 21 crore 62 lakh rupees, Nepal exported goods worth 1 arba 2 crore rupees. Due to this, Nepal has a profit of 80 crore 45 lakh rupees with Denmark.
Nepal has a trade surplus of 8 crore 80 lakh rupees with Norway, a European country, and 4 crore 22 lakh rupees with Romania. There is also a profit of 2 crore 60 lakh rupees with Iceland.
Nepal has zero imports from some countries. With countries like Grenada, Fiji, Bahamas, Barbados, Syrian Arab Republic, and Angola, imports are zero, making the trade with these countries entirely in Nepal's favor.
Similarly, imports from American Samoa are negligible. While imports from here were only 2 thousand rupees, exports amounted to 4 crore 46 lakh rupees.
Likewise, imports from Cayman Islands and Panama were only 1 thousand rupees each, while exports were 1 crore 40 lakh and 3 lakh 37 thousand rupees respectively.
Nepal has also earned trade profits with countries such as Seychelles, Niger, Maldives, Iraq, New Caledonia, Yemen, Georgia, Colombia, Mauritius, Mali, Cyprus, Croatia, Ghana, Congo, and Jamaica.
This specific news has been automatically translated by AI. As a result, there may be some inaccuracies or language errors.
