Merchandise exports surge by 46.5 pc, imports by 10.1 pc in 7 months, says NRB data
KATHMANDU: Merchandise exports surged by 46.5% to Rs 127.20 billion in seven months of the current fiscal year 2024/25, reversing a previous decline of 7.1% during the same period last year, as reported by Nepal Rastra Bank (NRB) on Monday.
Destination-wise, exports to India, China, and other countries increased by 66.9%, 8.6%, and 3.5%, respectively. Exports of soya bean oil, polyester yarn and thread, tea, cardamom, and particle board, among others, increased, whereas exports of palm oil, zinc sheets, ginger, herbs, and ready-made garments, among others, decreased during the review period.
According to NRB data, during the seven months of the current fiscal year, merchandise imports increased by 10.1% to Rs 988.59 billion, compared to a decline of 2.3% a year ago. Destination-wise, imports from India, China, and other countries increased by 7.5%, 11.2%, and 17.5%, respectively. Imports of crude soya bean oil, rice/paddy, transport equipment, vehicles and vehicle spare parts, edible oil, and sponge iron, among others, increased, whereas imports of petroleum products, crude palm oil, aircraft spare parts, peas, and writing and printing paper, among others, decreased during the review period.
The total trade deficit increased by 6.2% to Rs 861.38 billion during the seven months of 2024/25. Such a deficit had decreased by 1.8% in the corresponding period of the previous year. The export-import ratio increased to 12.9% during the review period from 9.7% in the corresponding period of the previous year.
During the seven months of 2024/25, merchandise imports from India against payment in convertible foreign currency amounted to Rs 103.94 billion. This amount was Rs 88.18 billion in the same period of the previous year.
