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Nepal’s trade deficit crosses Rs 1 trillion mark

File: Trucks importing various goods at Birgunj customs point

Kathmandu, April 22

As of mid-April 2021, the country’s trade deficit has crossed Rs 1 trillion, according to government statistics.

The Department of Customs says the amount of import, which had come down during the peak of the Covid-19 restrictions, got back to normality whereas that of the exports remained as weak as ever, leading to the increased trade deficit.

Nonetheless, the amounts of both import and export have increased in the first nine months of the current fiscal in comparison to the figures of the first nine months of the previous fiscal year.

As the first nine months of the current fiscal year are over, the amount of trade deficit stands at Rs 1.016 trillion that is 12.49 per cent more than the figure recorded exactly one year ago, the department informs.

Here are highlights of the foreign trade in the past nine months from mid-July 2020:

  • Import: Rs 1.111 trillion (13.12% more than last year’s figure)
  • Export: Rs 94.76 billion (20.23% more than last year’s figure)
  • Trade deficit: Rs 1.016 trillion (12.49% more than last year’s figure)
  • Total foreign trade amount: Rs 1.206 trillion (13.64% more than last year’s figure)
  • Share of import in the foreign trade: 92.14%
  • Share of export in the foreign trade: 7.86%

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