In the first three months of this fiscal year, Nepal’s imports have risen by 19%, while exports have jumped a massive 89.64%. This data was released by the Customs Department on Sunday, showing that despite strong growth in exports, the country’s trade deficit has reached around Rs 3.95 kharb.
According to the department, last year during the same period, the trade deficit was Rs 3 kharb 52 arba 37 crore. This year, it has increased by 12.18% to Rs 3 kharb 95 arba 30 crore.
During the first three months of the current fiscal year, the total foreign trade amounted to Rs 5 kharb 40 arba 86 crore. Of this, imports were Rs 4 kharb 68 arba 8 crore, while exports stood at Rs 72 arba 78 crore.
In comparison, last year during the same period, total foreign trade was Rs 4 kharb 29 arba 13 crore, with imports at Rs 3 kharb 90 arba 75 crore and exports at Rs 38 arba 37 crore.
The data shows a strong increase in exports, but imports are still much higher, keeping Nepal’s trade deficit large.
