First Business News Portal in English from Nepal
KATHMANDU: Nepal’s export trade has increased significantly during the first ten months of the current fiscal year 2021/22.
According to the foreign trade statistics published by the Department of Customs, Nepal’s export trade has increased by 59.80 per cent to Rs. 173.34 billion during the first ten months (mid-July, 2021 to mid-May 2022) of the current fiscal year.
Goods worth Rs. 108.47 billion had been exported during the first ten months of the last fiscal year. Even though exports went up significantly, the ratio of export to import is still 1:9.26. The ration of export to import was 1:11.56 in the same period last fiscal year.
The share of export in the total foreign trade is only 9.75per cent while that of import is at a whopping 90.25 per cent.
Meanwhile, import trade increased by 27.95 per cent to Rs. 1,604.65 billion during the review period. In the same period of the last fiscal year, the country imported goods worth Rs. 1,254.11 billion.
The ratio of import has slightly decreased in the last one month (mid-April to mid-May, 2022) after the government has adopted measures to control import to maintain the foreign currency reserves.
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