July 7, Kathmandu. By the 11th month (July-June) of the current Fiscal Year 2078/79, the foreign trade has reached close to 2 trillion.
According to the data released by the Customs Department, foreign trade worth Rs. This is 29.5 percent more than the same period last year.
In the first 11 months of last year, foreign trade was worth Rs 1.54 trillion. During this period, imports amounted to Rs. 1763.22 billion. Exports: Rs. 185.83 billion. As a result, the country’s trade deficit stood at Rs 1.577 trillion, according to the customs department. The trade deficit during the same period last year was Rs 1.262 trillion.
The growth rate of imports is the same
Nepal had high imports from the first month of the current fiscal year. This continued till the 11th month. Imports this year stood at Rs 1.763 trillion, an increase of 27.5 percent over the same period last year.
In the first 11 months of last fiscal year, the import was Rs 1.38 trillion. The growth rate of exports was 53.3 percent. Export trade stood at Rs. 121 billion in the corresponding period of the previous year.
The share of imports in foreign trade has been 90.47 percent this year while exports have been 9.53 percent.
340 billion import of petroleum products
Most of the petroleum products have been imported till the 11th month. For this, Rs. 340 billion of the country has gone abroad.
Imports of iron and steel have reached Rs 153 billion. Exports of such items alone fetched Rs 2.73 billion. The import of electronic goods worth Rs 113 billion has resulted in import of vehicles and spare parts worth Rs 93 billion.
Vegetable oil is the largest export from Nepal. Oil exports amounted to Rs. 90.19 billion during the review period. Nepal has conducted foreign trade with more than 165 countries.
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