Kathmandu. In the first three months (July-August) of the current fiscal year 2083/84, there has been an increase in total foreign trade, both imports and exports.
During this period, the country has imported goods worth 6 trillion 46 billion 78 million rupees. This is 38.18 percent more than the same period last year. By October of last year, imports were around 4.68 billion 8 billion.
Similarly, more than 1 trillion 14 billion 28 billion has been exported from the country. This is 57.03 percent more than last year’s 3 months. Goods worth 72.78 billion were exported in the first three months of last year.
According to this, compared to the same period of the last financial year 2082/83, the total foreign trade of Nepal increased by 40.71 percent in the first quarter of the current financial year and exceeded 7 trillion 61 billion 70 million in the public data of the Customs Department on Wednesday (November 11).
Trade deficit increased by 34.71 percent
Despite the encouraging growth in exports, the total trade deficit increased by 34.71 percent to 5 trillion 32 billion 49 crores due to the large size of imports. During the same period last year, the trade deficit was around 3.95 billion 30 million rupees.
However, according to the data of the department, the import-export ratio has decreased due to the improvement in exports. Last year, the export of 1 rupee equals the import of 6.43 rupees, but this ratio has decreased by 12 percent to 5.66 in the current year.
The share of exports in total foreign trade has increased by 11.59 percent to 15.02 percent from 13.46 percent last year. The share of imports decreased by 1.80 percent from last year’s 86.54 percent to 84.98 percent.