Nepal’s Tea Exports Reach Rs 2.46 Billion by Mid-March in FY 2023/24

Nepal’s tea industry continues to thrive, with exports reaching Rs 2.46 billion by mid-March of the current fiscal year 2023/24, according to the Economic Survey released by the Ministry of Finance. This substantial figure underscores the growing global demand for Nepalese tea and the industry’s increasing contribution to the national economy.

The report highlights a significant trade surplus in the tea sector. While tea imports amounted to Rs 2.4 million, the export value far exceeded it, standing at Rs 2.463 billion. This positive trade balance reflects the competitive quality and rising international recognition of Nepalese tea.

In comparison, during the last fiscal year 2022/23, Nepal exported tea worth Rs 3.937 billion and imported Rs 129 million worth of tea. The fiscal year 2021/22 saw tea exports amounting to Rs 3.43 billion, with imports valued at Rs 80.4 million. These figures demonstrate a consistent upward trend in tea exports over the years, coupled with a relatively low and declining import volume.