First Business News Portal in English from Nepal
KATHMANDU: Of 121 countries that Nepal is into trade, the country suffered trade deficit with 103 countries in the first two months of 2021-22 fiscal year.
As per the Department of Customs (DoC), Nepal has imported goods worth Rs 314.51 billion in the first two months of the current fiscal year and while was able to export goods worth Rs 44.39 billion in the review period.
Nepal’s largest trade deficit is with neighboring country India. While Nepal imported goods worth Rs 187.41 billion from India in two months, Nepal exported goods and services worth Rs 36.17 billion to its southern neighbor. Nepal’s trade deficit with India stood Rs 151.24 billion in the first two months of the current fiscal year.
Similarly, Nepal’s trade deficit with China is also high. While Nepal imported goods worth Rs 42.84 billion from China, it exported goods worth Rs 158 million to the northern neighbor in the first two months of 2021-22. Nepal incurred a trade deficit of Rs 42.68 billion with China in the review period.
Likewise, Nepal also has huge trade deficit with Argentina worth Rs 10.69 billion. Similarly, trade deficit with UAE is Rs 10.24 billion, Indonesia Rs 8.94 billion, Australia Rs 5.47 billion, Brazil Rs 3.27 billion, Bangladesh Rs 2.79 billion and Switzerland Rs 2.76 billion, 2.71 billion with Malaysia.
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