Kathmandu, January 23
Nepal has incurred a trade deficit of Rs 880 billion in foreign trade in the first six months (mid-July 2021-mid-January 2022) of this fiscal year, informs the Department of Customs.
In this period, the country imported goods worth Rs 999.34 billion, but the amount of export stood at Rs 118.85 billion only, thus making a loss of Rs 880.49 billion, the department reveals in its updated datasheet.
The amount of loss is 46.64 per cent more than the amount of trade deficit the country faced in the same period last year. Likewise, the worth of imports is 51.13 per cent more than the figure of the same period last year whereas the amount spent on exports was 95.48 per cent more than that of the same period last year.
In the past six months, the country spent the highest amount of money on the import of the following goods:
- Fossil fuel and bitumen: Rs 153 billion
- Iron and steel: Rs 84.93 billion
- Vegetable ghee and oil: Rs 78.09 billion