Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal’s merchandise exports increased sharply in the first five months of the current fiscal year, rising by more than 58 percent year-on-year, even as the country’s trade deficit widened beyond Rs 649 billion due to sustained growth in imports.
According to data released by the Department of Customs, Nepal exported goods worth Rs 116.50 billion during the review period. This represents a 58.17 percent increase compared to the same period of the previous fiscal year, when exports stood at Rs 73.65 billion.
During the same five-month period, Nepal’s total foreign trade reached Rs 882.69 billion. Imports amounted to Rs 766.18 billion, pushing the trade deficit to Rs 649.68 billion. The department said imports increased by 15.83 percent compared to the corresponding period last year.
Petroleum products remained the largest import item. Nepal imported petroleum products worth Rs 108.02 billion over the five months. This included diesel worth Rs 45.60 billion, petrol worth Rs 27.33 billion, liquefied petroleum gas worth Rs 22.39 billion, aviation fuel worth Rs 8.34 billion, and petroleum bitumen worth Rs 4.34 billion.
After petroleum products, crude soybean oil emerged as the second-largest import, with imports valued at Rs 39 billion during the period.
On the export side, soybean oil dominated Nepal’s outbound trade. Exports of soybean oil reached Rs 46.55 billion in the first five months of the fiscal year, making it the country’s top export item.
Other major export items included synthetic fabric worth Rs 1.33 billion and plywood worth Rs 1.32 billion, according to the Department of Customs.
Despite the strong growth in exports, the continued reliance on high-value imports—particularly petroleum products—has kept Nepal’s trade balance under pressure during the review period.
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