Nepal incurs a trade deficit of Rs 568 billion in the past 4 months

Kathmandu, November 24

Nepal has incurred a trade deficit of Rs 568 billion in the first four months (mid-July-mid-November) of this fiscal year, informs the Department of Customs.

In this period, the country imported goods worth Rs 650.29 billion, but the amount of export stood at Rs 82.124 billion only, thus making a loss of Rs 568 billion, the department reveals in its updated datasheet on Wednesday.

The amount is 56.83 per cent more than the amount of trade deficit the country faced in the same period last year as the figure was just Rs 362.29 billion then.

In the past four months, the country spent the highest amount of money on the import of the following goods:

  • Fossil fuel and bitumen: Rs 88.24 billion
  • Iron and steel: Rs 55.62 billion
  • Vehicles: Rs 44.59 billion
  • Vegetable ghee and oil: Rs 56.24 billion
  • Electric appliances: Rs 46.91 billion
  • Vegetables: Rs 16.09 billion
  • Tea and coffee: Rs 3.81 billion

Nepal has also exported vegetable ghee and oil, vegetables and tea and coffee in this period, but the amounts are lower than the imports.

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