Kathmandu – Nepal’s total trade deficit has reached nearly NPR 1.4 trillion during the first 11 months of the current fiscal year 2081/82, according to data published today by Nepal Rastra Bank. The total merchandise trade deficit rose by 6.3%, reaching NPR 1.397 trillion.

Total imports increased by 13.1%, reaching NPR 1.644 trillion. In contrast, imports had declined by 1.8% during the same period of the previous fiscal year.

By country of origin, imports from India, China, and other countries rose by 7.6%, 15.3%, and 29.5%, respectively. On a commodity basis, imports of crude soybean oil, rice/paddy, transport equipment, vehicles and spare parts, edible oil, and sponge iron increased. However, imports of petroleum products, gold, electrical equipment, chemical fertilizers, and coal declined.

On the export front, most major customs offices—Bhairahawa, Biratnagar, Birgunj, Dry Port, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa, and Tribhuvan International Airport—reported a decline in exports. In contrast, imports rose from all major customs points except for Jaleshwar and Tribhuvan International Airport.

During the review period, imports worth NPR 167.30 billion were made from India using convertible foreign currency. This is up from NPR 137.13 billion in the same period last year.

Despite the widening trade deficit, total exports rose significantly by 77.8%, reaching NPR 247.57 billion in the first 11 months of FY 2081/82. In contrast, exports had declined by 3% during the same period last year.

By export destination, shipments to India, China, and other countries increased by 112%, 3%, and 4.4%, respectively. In terms of products, exports of soybean oil, polyester yarn, jute goods, tea, and rosin increased, while exports of palm oil, zinc sheets, juice, ready-made garments, and cardamom declined.