Nepal’s exports hit a record high last year. In the next 8 months, the record is broken already

File: Trucks importing various goods at Birgunj customs point
File: Trucks importing various goods at Birgunj customs point

Kathmandu, March 21

In the previous fiscal year (2020/21), Nepal for the first time in its history exported goods worth Rs 100 billion. Now, eight months into the new fiscal year, the record is already broken.

In the entire last fiscal year, the worth of goods exported by the country was Rs 141.12 billion. But, in the next eight months only, the country’s export figure has already hit the mark of Rs 147.74 billion.

According to the Department of Customs, the country had earned Rs 97.7 billion in exports in the first eight months of last year. It means the export increased by 44.43 per cent in the same period this year.

Meanwhile, the amount of imports decreased in this period owing to the government’s restrictive policy in its efforts to solve the liquidity crisis.

Compared to the same period last year, the country imported goods worth 38.64 per cent less than that of the same period last year.

According to the department’s record, the country imported goods worth Rs 1.308 trillion in the past eight months. It means the trade deficit is still alarming high in the country.

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