Nepal’s exports increased by 31.78% in the first six months of the current fiscal year, driven largely by the resurgence of refined soybean and sunflower oil exports.
According to the Department of Customs (DoC), export earnings rose by Rs 23.82 billion, reaching Rs 98.78 billion between mid-July and mid-January, compared to Rs 74.96 billion during the same period last fiscal year.
Soybean oil emerged as the top export, contributing Rs 18.91 billion, followed by sunflower oil at Rs 4.98 billion. Other key contributors included carpets (Rs 5.61 billion), cardamom (Rs 4.56 billion), and tea (Rs 2.96 billion).
After a slow start, Nepal’s foreign trade began improving post-October, with imports growing by 7.06% to Rs 822.37 billion. This marked an increase from Rs 768.16 billion during the same period last year.
Diesel topped the list of imported goods at Rs 54.36 billion, followed by petrol (Rs 32.14 billion) and LPG (Rs 29.79 billion). Raw materials for soybean oil, primarily sourced from Argentina, ranked fifth with Rs 20.17 billion in imports. Similarly, sunflower oil materials from Ukraine amounted to Rs 11.67 billion, ranking eighth.
In December alone, imports surged by Rs 161 billion—the first time monthly imports exceeded Rs 150 billion. Analysts interpret this as a sign of recovering domestic demand.
However, the sharp rise in imports widened Nepal’s trade deficit by 4.38%, resulting in a negative trade balance of Rs 723.58 billion during the review period.
