Trade deficit in Q1 of current fiscal year grows by 2.15% Y-o-Y

KATHMANDU: During the first quarter of the current fiscal year, the trade deficit has reached a total of 366 billion rupees, marking a 2.15 percent increase compared to the corresponding period in the prior fiscal year. To provide context, in the initial three months of the previous fiscal year, the trade deficit amounted to 359 billion.

In the months of July, August, and September of the ongoing fiscal year, imports amounted to 407 billion rupees. In contrast, during the same period in the previous year, imports reached 400.09 billion rupees. This data reflects a 1.69 percent increase in imports, while exports simultaneously experienced a 2.26 percent decline.

According to customs department data, exports during July, August, and October of the previous fiscal year were valued at 41.82 billion rupees, whereas during the equivalent period of the current fiscal year, exports amounted to 40.87 billion rupees.

In the first three months of the current fiscal year, imports included diesel valued at 29 billion rupees, petrol at 17 billion rupees, and LPG gas at 11 billion rupees, as reported by the DoC. Additionally, exports during this period featured items such as carpets worth 2 billion rupees, iron products valued at 1 billion rupees, and cardamom totaling 1 billion rupees.