The foreign trade of Nepal has gone down by around 2.5 percent in the last 10 months compared to the same period in the last fiscal year.
According to the Department of Customs, the trade volume decreased by Rs 36 billion, 691 million and 912 thousands in the last 10 months of the current fiscal year (2080/2081).
Nepal posted a foreign trade volume of 1 trillion 466 billion 222 million and 499 thousand rupees in the last 10 months of the current fiscal.
The country faced a trade deficit of Rs 1 trillion 177 billion 183 million and 491 thousand rupees during the same period.
Around the same period last fiscal year, Nepal’s trade deficit was Rs 1 trillion 204 billion 422 million 425 thousand.
Meanwhile, the trade deficit also decreased by 27 billion 238 million and 934 thousand rupees this fiscal compared to last fiscal year.
According to the Department of Customs, the import and export has gone down by 2.39 and 3.61%, respectively.
While Nepal imported goods worth Rs 1 trillion 303 billion 357 million 039 thousands, it exported goods worth Rs 126 billion 173 million 548 thousand rupees during the same period.
Around the same period last fiscal year, Nepal had imported goods worth Rs 1 trillion 335 billion 322 million 462 thousand and exported goods worth Rs 1 trillion, 30 billion 900 million 037 thousand.
While the average import to export ratio is put at staggering 19.33:1.26, this translates to a much larger import share of 91.17%, compared to the export share of just 8.83%.
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