World News | Nepal's Trade Deficit in First Four Months of FY Crosses Rs. 460 Billion

Kathmandu, Nov 24 (PTI) Nepal's trade deficit crossed Rs 460 billion in the first four months of the current fiscal year, according to official figures.

As per the details released by the Customs Department, Nepal imported goods worth Rs 513.38 billion, while the export was limited to just Rs 52.67 billion during the first four months of the current fiscal year.

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Out of the total Rs 566.5 billion of foreign trade, Nepal witnessed a trade deficit of Rs 460.71 billion in four months, according to the department.

According to the data, the imports increased by 0.17 per cent while the exports by 4.16 per cent compared to the same period last year.

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Nepal's trade deficit with India, the largest trading partner, has crossed Rs 281 billion in the first four months of the current fiscal year (mid-July to mid-November).

During the period, Nepal imported goods worth around Rs 317 from India while it exported only Rs 36 billion worth of goods to the southern neighbour.

In the four months, Nepal imported diesel worth Rs 29.4 billion, petrol of Rs 21.56 billion and LPG of Rs 18.85 billion. Likewise, iron-related goods and smartphones also topped the rank of imported goods.

Meanwhile, Nepal exported carpet of Rs 3.6 billion as the key exportable goods in the four months followed by soybean oil of Rs 3.41 billion, tea of Rs 2.21 billion and cardamom of Rs 1.9 billion.

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