Along with increasing dependence on essential commodities, the trade deficit of Nepal is also increasing.
In the current Fiscal Year 2078/79, Nepal has established trade relations with 143 countries while a trade deficit has been observed with 120 countries. It is increasing as Nepal’s exports are weaker than imports.
According to the data of the Customs Department, Nepal imported goods worth Rs. 838 billion and exported Rs. 102 billion rupees amounting the deficit of Rs. 735 billion.
More than half of Nepal’s total trade deficit is with India. Exports from Nepal to India amounted to Rs. 89.15 billion. Nepal has been importing petroleum products, food items, green vegetables, and other items from India.
After India, it is with China, Indonesia, Argentina, UAE, Australia, the USA, and other countries is increasing. After India, China has a trade deficit of Rs 121 billion. As of December, Nepal exported goods worth Rs 380 million to China and imported goods worth Rs 122 billion.
Foreign trade with Cambodia, Denmark, Algeria and Sweden is beneficial. Nepal has made a profit of 117.4 million rupees in trade with Cambodia.
As of November, Cambodia had imported 21.4 million rupees and exported 138.9 million rupees.
