Nepal’s imports exceed Rs 999bn in first six months of current FY

KATHMANDU: Nepal imported goods and services worth more than Rs 999.34 billion in the first six months of the current fiscal year. As the export has also witnessed an increase along with the import in this period, goods and services worth Rs 118.85 billion have been exported. Nepal has imported goods from 141 countries and the largest import was from India. Imports from India were worth more than Rs 603.54 billion during this period. Trade statistics of the first six months of the current fiscal year 2021/22 released by the Department of Customs shows that the import increased by 59.13% while the export went up by 955.48% during this period. The import in the first six months of the last fiscal year, 2020/21, stood at Rs 661, 245,300,000. Although the export is increasing, the import is growing exponentially thereby leading to a heightening trade deficit. Trade deficit increased by 46.64% in the first six months of the current fiscal year to reach Rs 880,491,700,000. The trade deficit in the same period last fiscal year was Rs 600,446,100,000. Similarly, the country recorded foreign trade worth Rs 1, 118,193,600,000 in the first six months of the current fiscal year while it was Rs 722.45 billion during the corresponding period last fiscal year.  The foreign trade in the first six months of the current fiscal year is 54.86% more as compared to the foreign trade in the corresponding period of the last fiscal year. By RSS READ ALSO: 

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