
Nepal Records Rs 723.58 Billion Trade Deficit in Six Months

Nepal’s trade deficit reached Rs 723.58 billion in the first half of the current fiscal year, according to the Department of Customs. The country’s total foreign trade during this period amounted to Rs 921.16 billion.
Between July and mid-January, Nepal exported goods worth Rs 98.79 billion while importing goods worth Rs 822.37 billion. Compared to the same period last fiscal year, imports increased by 7 percent, while exports rose significantly by 31.78 percent. The trade deficit, however, expanded by 4.38 percent year-on-year.
India accounted for the largest share of Nepal’s trade deficit, with imports valued at over Rs 502.8 billion against exports worth Rs 73.71 billion, resulting in a deficit of Rs 429.14 billion in just six months.
Nepal also faced significant trade deficits with China, totaling Rs 158.62 billion, and with Argentina at Rs 22.62 billion.
Interestingly, Nepal recorded a trade surplus with 32 countries, including Denmark, Austria, Russia, the Maldives, and others. On the other hand, the country faced trade deficits with 23 nations, showcasing its dependency on imports from key trading partners.
The data reflects the ongoing challenges in balancing Nepal’s trade dynamics, as the country continues to rely heavily on imports while working to boost its export capacity.
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