Nepal exported goods worth over Rs 158.17 billion in the first eight months of the current fiscal year 2024/25, with ten major goods contributing over Rs 100 billion to the country’s earnings. According to the Department of Customs (DoC), Nepal’s export earnings surged by 57.2 percent between mid-July 2024 and mid-March 2025, compared to Rs 100.61 billion in the same period last fiscal year.
The top export commodities included soybean oil, yarn, sunflower oil, woolen carpets, plywood, iron sheets, large cardamom, readymade garments, fruits, and jute-related products, collectively generating Rs 104.14 billion. This marks a sharp increase from Rs 47 billion in the previous year. Among these, edible oils accounted for over 35 percent of total exports. Revenue from soybean oil exports soared to Rs 47.94 billion, up from just Rs 754.10 million last year, while sunflower oil exports increased to Rs 7.98 billion from Rs 140 million.
Trade experts attribute this surge to Nepal’s use of the South Asian Free Trade Area (SAFTA) agreement, which allows duty-free exports from underdeveloped countries. Nepali traders have been importing crude palm oil at minimal tariffs and exporting the refined product to India without duties, leveraging India’s policy that permits zero tariffs for products with at least 30 percent value addition inside Nepal.
Other key export items also showed notable growth. Yarn exports rose by 23 percent to Rs 9.19 billion, while woolen carpets increased by 4 percent to Rs 7.21 billion. Plywood exports surged by 20 percent to Rs 5.88 billion.
Nepal’s import expenses rose by 11.2 percent to Rs 1.14 trillion during the review period, compared to Rs 1.03 trillion last year. Diesel topped the list of imports, amounting to Rs 78.86 billion, followed by crude soybean oil at Rs 51.35 billion, petrol at Rs 42.80 billion, and cooking gas at Rs 41 billion. Overall, the country spent more than Rs 200 billion on petroleum imports.
India remained Nepal’s largest trading partner, with imports totaling Rs 688 billion and exports reaching Rs 125 billion. China ranked second, with Nepal importing goods worth Rs 2.19 billion and exporting goods worth Rs 2.12 billion. According to DoC statistics, Nepal’s total foreign trade grew by 15.29 percent to Rs 1.33 trillion, while the trade deficit widened by 6.22 percent to Rs 987.39 billion.