Kathmandu : Nepal’s foreign trade deficit during the first five months of the current fiscal year (mid-July to mid-December) has reached Rs 649.68 billion out of a total foreign trade volume of Rs 882.69 billion.
According to the foreign trade statistics released by the Department of Customs, imports during the review period stood at Rs 766.18 billion, while exports totaled Rs 116.50 billion. Compared to the same period last fiscal year, imports increased by 15.83 percent and exports rose significantly by 58.17 percent, the Department reported.
The country recorded a trade deficit of Rs 339.02 billion with India over the past five months. Imports from India amounted to Rs 434.06 billion, whereas exports were valued at Rs 95.04 billion. Likewise, imports from another neighboring country China totaled Rs 163.73 billion, while exports to that country were limited to Rs 466.8 million.
Romania emerged as the leading country in terms of Nepal’s trade surplus, with a profit of Rs 63.4 million. Nepal also recorded trade surpluses with Sweden and Iraq during the same period.
In terms of imports, petroleum products accounted for the largest share. The country imported diesel worth Rs 45.6 billion, petrol worth Rs 27.33 billion, and cooking gas valued at Rs 22.39 billion. Other major imports included smartphones worth Rs 19.13 billion, crude soybean oil amounting to Rs 46.97 billion, and iron products valued at Rs 21.84 billion.
Soybean oil was the single largest import item, totaling Rs 46.55 billion. In addition, Nepal imported large cardamom worth Rs 5.53 billion, carpets valued at Rs 4.13 billion, and sunflower oil worth Rs 3.73 billion during the review period.
