United States leads as Nepal achieves surplus in trade with 27 nations

KATHMANDU: In the initial quartile of the present fiscal year, Nepal exhibited a commendable performance in its international trade dynamics, achieving a trade surplus with 27 nations, as reported by the Department of Customs (DoC). The cumulative surplus amounted to a substantial Rs 2.46 billion during the period spanning from mid-July to mid-November.

The United States emerged as a significant contributor to this surplus, with Nepal securing a net gain of Rs 1.97 billion in its trade dealings with the nation.

The export figures to the USA reached Rs 6.10 billion, surpassing the import value of Rs 4.12 billion. This robust trade relationship underscores the positive trade balance achieved by Nepal in its transactions with the United States.

Denmark secured the second position in this impressive lineup, contributing Rs 305 million to Nepal’s overall surplus. Noteworthy contributors to the surplus also included countries such as the Netherlands, Norway, Finland, Slovakia, Iceland, Latvia, Chad, Sudan, Croatia, Malta, and Georgia, among others.

In contrast, Nepal encountered a trade deficit with 118 countries during the review period, resulting in an overall deficit of Rs 461 billion for the nation. Despite the prevalence of deficits in the majority of its international trade engagements, the notable surpluses with specific countries underscore Nepal’s ability to capitalize on economic opportunities and enhance its trade performance on the global stage.

The detailed breakdown of trade dynamics with individual nations during this period serves as a valuable insight into the intricacies of Nepal’s international commerce landscape.

Fiscal Nepal |
Sunday November 26, 2023, 10:35:07 AM |

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