Nepal records increase in export by 88.3% in first seven months of current FY

KATHMANDU: Nepal witnessed an increase in export of domestic products in the first seven months of the current fiscal year 2021/22. According to the statistic unveiled by the Department of Customs here today, the export of domestic products stood at 88.3%. The export during this period amounted to around Rs 131 billion against more than Rs 69.91 billion during the same period in the previous fiscal year. Likewise, the country has recorded a rise in imports by 42.78% during the first seven months of the current fiscal year, the Department said. The import stood at Rs 1,147.46 billion against Rs 803 billion during the period in the previous fiscal year. Similarly, due to rise in imports compared to export, the trade deficit has increased 38.45%. Trade deficit is over Rs 1,015 billion in the first seven months of the current fiscal year while it was Rs 733 billion during the same period of the previous fiscal year. Meanwhile, foreign trade has increased by 46.43% in the first seven months of the current fiscal year. The country witnessed transactions of over Rs 1279. 12 billion against Rs 873 billion during the corresponding period of the previous year. Nepal imported foreign goods worth over Rs 1,147.46 billion from 145 countries. A major portion of the imports was recorded from India at Rs 696 billion followed by China at Rs 165.23 billion, the Department of Customs shared. Nepal has a trade deficit of Rs 589 billion with India and Rs 164.74 billion with China. By RSS READ ALSO:

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