Nepal’s expenditure on petroleum and minerals was double its total export value last year

Kathmandu, July 27

Records at the Department of Customs show that Nepal imported petroleum products and other minerals worth Rs 194.79 billion in the fiscal year 2019/20. In the same period, the country exported various goods worth Rs 96.62 billion.

It means the country’s expenditure on petroleum and minerals such as asphalt was more than double the country’s total export value last year.

As per the department’s data, the country’s total export value is hardly 10 per cent of its total import, meaning the trade deficit is rising speedily.

Last year, Nepal spent Rs 100 billion on irons and steels, and Rs 65 billion on vehicles, two of the biggest imports, according to the data.

Published on July 27th, Monday, 2020 1:23 PM

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