News Article

Nepal’s trade deficit declines 5.8 percent to Rs 600 billion in first half of current FY

By Republica

Published: January 22, 2021 08:50 AM

KATHMANDU, Jan 22: Nepal has been importing goods worth more than Rs 100 billion a month on an average, compared to the exports worth mere Rs 10 billion a month.

The records maintained by the Department of Customs (DoC) show that the country spent Rs 661.24 billion on imports, a fall of 4.81 percent, in the first six months of the current fiscal year. On the other hand, the export earnings stood at Rs 60.79 billion, an increase of 6.14 percent in the review period.

In the past two years, Nepal has been able to reduce its annual figure of trade deficit, but by a very small margin due to the low volume of exports. During mid-July and mid-January this year, the trade deficit has gone down by 5.8 percent to Rs 600 billion.

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