In the first month of the current Fiscal Year, the total trade deficit increased by 70.6 percent to Rs. 129.97 billion. As per the details made public by Nepal Rastra Bank, the total merchandise trade deficit has increased significantly as compared to FY 2020/21.
Such deficit had decreased by 22.2 percent in that year. Total merchandise exports increased by 116 percent to Rs. 20.76 billion in the first month of the current fiscal year. Such exports had increased by 8.9 percent in the corresponding period of the previous year.
According to the central bank, exports to India, China, and other countries increased by 167.0 percent, 47.8 percent, and 17.5 percent, respectively. On a commodity basis, exports of soybean oil, palm oil, yarn (polyester and others), juice, beverages, and other commodities have increased. Similarly, the export of cardamom, ayurvedic medicine, herbs, wire, readymade leather goods, and other commodities has declined.
Total merchandise imports increased by 75.7 percent to Rs. 150.73 billion in the first month of the current fiscal year. Such imports had decreased by 19.6 percent in the corresponding period of the previous year. Imports from India, China, and other countries have increased by 58.7 percent, 87.6 percent, and 120.8 percent, respectively.
On a commodity basis, imports of petroleum products, means of transport and spare parts, crude soybean oil, MS billet, gold, and other commodities have increased while imports of chemical fertilizers, cement, tobacco, aircraft parts, and readymade garments have declined.
Except for Kanchanpur, Mechi, and Nepalgunj customs offices, exports from the border have increased during the same period. Imports from checkpoints other than the Kailali customs office have increased. The export-import ratio has reached 13.8 percent in July.
Such a ratio was 11.2 percent in the corresponding period of the previous year. During the review period, goods worth Rs. 18.86 billion were imported from India in US dollars. Such imports amounted to Rs. 9.26 billion in the corresponding period of the previous year.
