The country’s trade deficit in the first seven months of the current fiscal year has reached more than Rs 811 billion.
Although the government has been saying that it will reduce the trade deficit, the trade deficit has reached Rs 811.11 billion in the seven months of the current fiscal year 2023/24. According to the Department of Customs, although the trade deficit decreased by 1.77 percent compared to the same period last year, it is still large.
As a whole, the country’s foreign trade has experienced a decline. Over the seven-month period, foreign trade amounted to Rs 984.77 billion. During this period, imports decreased by 2.31 percent, while exports dropped by 7.07 percent.
Imports totaled Rs 897.94 billion, while exports stood at Rs 86.83 billion over the seven months, resulting in a 2.75 percent decrease in total foreign trade. In the corresponding period of the previous year, Nepal’s foreign trade amounted to Rs 1.12 trillion, recording a decrease to Rs 984.77 billion in the current year.
