Nepal enjoyed trade surplus with 21 countries out of 116 trading partner countries in first two months of current FY

Published On: October 9, 2022 05:45 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Oct 9: Nepal enjoyed a trade surplus with 21 countries in the first two months of the current fiscal year.

The records with the Department of Customs (DoC) show that Nepal had a trade surplus of Rs 179.71 million with Denmark, the largest of all. Nepal exported goods worth Rs 213.68 million to Denmark while imports from the European country accounted for Rs 33.97 million.

Likewise, Nepal’s exports exceeded than its imports from countries like Cambodia, Norway, Austria, Uruguay, the United Kingdom, Sweden, New Caledonia, Slovenia, Portugal, Iceland, Mauritius, Estonia, Lebanon, Croatia, Monaco, Latvia, Sudan, Angola, Iraq and Bolivia.

According to the DoC, Nepal faced a negative trade balance with 95 countries during mid-July and mid-September. Overall, Nepal had a trade deficit of Rs 244.91 billion in the review period.

Of the countries with trade deficits, Nepal recorded the least value of Rs 17,000 with Brunei Darussalam. The trade deficit with China and India stood at Rs 37 billion and Rs 149.81 billion, respectively.