Published On: July 25, 2022 06:30 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, July 25: Nepal imported goods from 164 countries during the fiscal year 2078/79 BS (2021/22).
According to the statistics unveiled by the Department of Customs today, Nepal imported goods worth over Rs 1,920 billion from those countries last fiscal year.
The statistics show that Nepal purchased goods worth over Rs 1,200 billion from India alone while the export was worth Rs 155 billion. It means the country's trade deficit with India alone was over Rs 1,044 billion last fiscal year. After India, China is the second largest supplier of goods to Nepal as in one year Nepal imported goods worth over Rs 264 billion and the export round figure was Rs 887 million, resulting in a trade deficit of worth around Rs 264 billion.
Trade deficit goes up
The size of the country's trade deficit has been increasing year on year. Last fiscal year, the figure of trade deficit increased by 23 percent compared to the previous fiscal year. According to the Department, the trade deficit reached over Rs 1,720 billion last fiscal year and it was over Rs 1,398 billion in the previous year.
In one year, Nepal saw foreign trade of worth over Rs 2,120 billion and this was more by 26.15 percent than of the previous year. In the fiscal year 2077/78 BS (2020/21), the country's foreign trade transactions was worth around Rs 1,681 billion.
(RSS)
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