Kathmandu, Aug 22: Both imports and exports increased in the first month of the current fiscal year 2083/84.
According to data released by the Department of Customs, Nepal’s total foreign trade increased by 35.44 percent in Shrawan 2083, reaching Rs 226.14 billion.
In the same month of the previous fiscal year, total foreign trade stood at Rs 166.97 billion.
Nepal imported goods worth Rs 187.44 billion in Shrawan, an increase of 31.04 percent compared to the same month last fiscal year. Imports had stood at Rs 143 billion in Shrawan of the previous fiscal year.
Exports also rose significantly. Nepal exported goods worth Rs 38.70 billion during the month, up 61.72 percent from the previous year. Exports had amounted to only Rs 23.93 billion in Shrawan last year.
Exports accounted for 17.11 percent of total foreign trade, an increase of 19.41 percent compared to the same period last year. The share of imports fell by 3.25 percentage points to 82.89 percent.
Despite the sharp rise in exports, Nepal’s trade deficit reached Rs 148.73 billion in the first month of the fiscal year. This represents a 24.88 percent increase compared to Shrawan last year, when the trade deficit stood at Rs 119.10 billion.
People’s News Monitoring Service
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