Kathmandu, August 23: During the first month of the current fiscal year 2083/84, Shrawan, imports increased by 31.04 percent while exports rose by 61.72 percent.
According to data released by the Department of Customs, Nepal’s trade deficit increased by 24.88 percent during the month.
Nepal exported goods worth Rs 38.70 billion during Shrawan of the current fiscal year, compared to Rs 23.93 billion during the first month of the previous fiscal year.
Although exports increased by Rs 14.77 billion within a year, the trade deficit also widened due to a rise in imports. Nepal imported goods worth Rs 187.43 billion during Shrawan of the current fiscal year, compared to Rs 143.04 billion during the same month of the previous fiscal year.
As a result, the trade deficit in Shrawan reached Rs 148.73 billion, up from Rs 119.10 billion in the corresponding month of the previous fiscal year.
During the first month of fiscal year 2083/84, Nepal also imported electric vehicles worth nearly Rs 1.75 billion.
According to Department of Customs data, imports of various types of electric three-wheelers and other electric vehicles during Shrawan amounted to Rs 1.843 billion. The government collected Rs 1.144 billion in revenue from these imports.
The largest number of unassembled electric three-wheelers—1,171 units—were imported from China. In addition, 517 electric three-wheelers and 489 other electric vehicles were imported. From India, Nepal imported 200 electric three-wheelers and 199 other electric vehicles.
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