Nepal’s Trade Dynamics in 11 Months of Current Fiscal Year Show Mixed Trends

In the first 11 months of the current fiscal year, Nepal witnessed a notable shift in its trade landscape, as reported by the Department of Customs (DOC). Imports during this period totaled Rs 1.4537 trillion, marking a slight decrease of 1.84 percent compared to the corresponding period in the previous fiscal year.

Concurrently, exports showed a decline of 3.01 percent, with figures for the current fiscal year standing at Rs 139.26 billion from August to June, down from Rs 143.58 billion in the same period last year.

The overall trade deficit narrowed by 1.72 percent, a positive development amidst the economic challenges. Last fiscal year, the deficit was recorded at Rs 1.3374 trillion, whereas it stood at Rs 1.3144 trillion for the current fiscal year up to the 11-month mark.

Diesel emerged as the leading import commodity, amounting to Rs 129.20 billion, followed by petrol at Rs 62.87 billion and LPG gas at Rs 51.073 billion.

On the export front, Nepal continued to showcase its strengths in certain sectors. Carpets led the export categories with transactions worth Rs 9.7318 billion, followed closely by cardamom at Rs 7.47 billion and iron and steel at Rs 6.166 billion.