KATHMANDU, March 24: Nepal's trade deficit in the first eight months of the current fiscal year reached Rs 849.33 billion, a decline of 4.34% compared to the same period in the last fiscal year.

Nepal is a food deficit country, importing both cereals and high-value agriculture commodities due mainly to slow agricultural growth rates. The government’s commitment to check the country’s ever widening trade deficit by boosting farm production is difficult to achieve unless implementation is improved.