Nepal imported goods worth over Rs 150 billion in first month of current FY

Published On: August 27, 2021 07:30 PM NPT By: RSS

KATHMANDU, August 27: Nepal’s import of foreign goods crossed Rs 150 billion in the first month of the current fiscal year.

Trade statistics of the first month of the current fiscal year 2021/22 released by the Department of Customs today shows that the country imported foreign goods worth Rs 150 billion 731 million and 719 thousand in the first month of this fiscal.

This is an increase of 75.66 per cent compared to the import in the first month of the last fiscal year.The import in the first month of the last fiscal year, 2020/21, stood at Rs 85 billion 807 million and 900 thousand.

Similarly, goods worth Rs 20 billion 765 million 100 thousand were exported in the first month of the current fiscal year. A high rise has been witnessed in the export in the first month of the current fiscal year compared to the rest of the fiscal years. Goods worth Rs 9 billion 620 million were exported in the corresponding period of the last fiscal year.

Compared to the last fiscal year, export increased by 115.85 per cent in the first month of the current fiscal year.

Likewise, Nepal witnessed a trade deficit equivalent to Rs 129 billion 966 million 600 thousand in the month of Shrawan alone. The trade deficit in the same period last fiscal year was Rs 76 billion 187 million 900 thousand. This means the trade deficit in this fiscal year has increased by 70.59 per cent compared to that of the last fiscal year.

As per one month's statistics released by the Department, petroleum products top the commodities imported by Nepal. Petroleum products worth Rs 18.13 billion were imported in one month.

Oil products worth over Rs 11.93 billion were exported from Nepal in one month.

Similarly, Nepal imported foreign goods worth Rs 150.73 billion from 102 different countries during one month.

India continues to be Nepal’s biggest trade partner with the country importing goods worth Rs 89.48 billion from India in one month. Nepal imported a large amount of goods worth Rs 20.97 billion from China after India during the same period.

Similarly, Nepal exported goods worth Rs 16.83 billion to India while Rs 80 million to China in the one-month period.