Nepal’s total merchandise trade deficit has increased by 4.4 percent in the first six months of the current fiscal year, reaching Rs 723.58 billion, according to data released by Nepal Rastra Bank (NRB) on Sunday. In contrast, the deficit had decreased by 2.6 percent during the same period last year. The export-import ratio has improved to 12 percent, compared to 9.8 percent in the previous year.
Total merchandise exports surged by 31.8 percent, reaching Rs 98.79 billion. Last year, exports had declined by 7.2 percent during the same period. Exports to India increased by 46.1 percent, while exports to China rose by 19.7 percent. Exports to other countries saw a modest growth of 1 percent. By commodity, exports of soybean oil, tea, polyester yarn and thread, particle board, and cardamom increased, while exports of palm oil, zinc sheets, ginger, ready-made garments, and herbs declined.
Total imports of goods rose by 7.1 percent to Rs 822.37 billion. In the same period last year, imports had declined by 3.1 percent. Imports from India grew by 5.9 percent, while imports from China increased by 8.9 percent. Imports from other countries rose by 9 percent. Based on commodity groups, imports of crude soybean oil, rice/paddy, transportation equipment, vehicle parts, sponge iron, and edible oil increased, while imports of petroleum products, crude palm oil, gold, chemical fertilizers, and kerosene declined.
Exports from major checkpoints except Bhairahawa, Biratnagar, Birgunj, Dry Port, Kailali, Krishnanagar, Mechi, Nepalgunj, and Rasuwa decreased. On the other hand, imports from all major checkpoints, except dry ports, increased.
Additionally, goods worth Rs 88.56 billion were imported from India using convertible foreign exchange, up from Rs 76.25 billion in the same period last year.
