KATHMANDU: Nepal has witnessed an increase in export by 69.44% in the last nine months of the current fiscal year 2021/22 as compared to the corresponding period in the previous fiscal year.
According to the statistics unveiled by the Department of Customs, the export of domestic products from mid-July, 2021 to mid-April was recorded at more than Rs 160.57 billion against more than Rs 94.76 billion during the same period last year.
Similarly, import has also witnessed an increase of 31.97% in the first nine months of the current fiscal year against last year which amounts to over Rs 1466.66 billion.
Import of foreign goods and food items worth Rs 1,111.39 billion was recorded during the same period last fiscal year.
Trade deficit up by 28% Likewise, the trade deficit went up by 28.47% to over Rs 1450 billion during the first nine months of the current fiscal year against Rs 1016.62 billion during the same period in the previous fiscal year. Similarly, the country’s foreign trade increased by 34.91%. During this period, the country witnessed foreign trade worth Rs 1627 billion according to the Department of Customs. The data shows that during the corresponding period last fiscal year, foreign trade worth Rs 1206 was transacted. According to the trade statistics in the first nine months of the current fiscal unveiled by the department, Nepal imported petroleum products that included diesel, petrol and cooking gas worth Rs 200 billion. Diesel has the highest contribution to the import as the country had to pay over Rs 105 billion for its import alone followed by over Rs 47.23 billion for petrol. Liquefied petroleum gas (LPG) worth more than Rs 45.34 billion was imported during the period. Similarly, soyabean oil worth Rs 45.58 billion, palm oil worth over Rs 32.4 billion, vaccines worth over Rs 31.85 billion and gold worth over Rs 28.54 billion were imported during nine months.
Import from 162 countries As per the data, goods worth over Rs 1,466 billion were imported from 162 countries during the first nine months. Nepal imported goods of the highest amount worth Rs 917 billion from India while it exported goods worth Rs 127 billion during the nine months. Nepal bears a trade deficit amounting to Rs 773 billion with India during the period. China is the second-largest trade partner of Nepal and Nepal imported goods worth over Rs 211 billion from China whereas it exported Rs 628 billion during the first nine months. Nepal has a trade deficit amounting to Rs 210 billion with China. READ ALSO:
Trade deficit up by 28% Likewise, the trade deficit went up by 28.47% to over Rs 1450 billion during the first nine months of the current fiscal year against Rs 1016.62 billion during the same period in the previous fiscal year. Similarly, the country’s foreign trade increased by 34.91%. During this period, the country witnessed foreign trade worth Rs 1627 billion according to the Department of Customs. The data shows that during the corresponding period last fiscal year, foreign trade worth Rs 1206 was transacted. According to the trade statistics in the first nine months of the current fiscal unveiled by the department, Nepal imported petroleum products that included diesel, petrol and cooking gas worth Rs 200 billion. Diesel has the highest contribution to the import as the country had to pay over Rs 105 billion for its import alone followed by over Rs 47.23 billion for petrol. Liquefied petroleum gas (LPG) worth more than Rs 45.34 billion was imported during the period. Similarly, soyabean oil worth Rs 45.58 billion, palm oil worth over Rs 32.4 billion, vaccines worth over Rs 31.85 billion and gold worth over Rs 28.54 billion were imported during nine months.
Import from 162 countries As per the data, goods worth over Rs 1,466 billion were imported from 162 countries during the first nine months. Nepal imported goods of the highest amount worth Rs 917 billion from India while it exported goods worth Rs 127 billion during the nine months. Nepal bears a trade deficit amounting to Rs 773 billion with India during the period. China is the second-largest trade partner of Nepal and Nepal imported goods worth over Rs 211 billion from China whereas it exported Rs 628 billion during the first nine months. Nepal has a trade deficit amounting to Rs 210 billion with China. READ ALSO:
Published Date: April 22, 2022, 12:00 am
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