Nepal is facing a loss with 124 countries due to not being able to increase the export of domestically produced goods. These countries have suffered losses due to the importation of agricultural products that can be produced domestically. According to the trade data released by the Customs Department on Thursday, there has been a loss of 8 trillion 61 billion 38 billion rupees in 7 months.

This amount is 6.20 percent more than the first 7 months of last financial year. In the first 7 months of 2080/81, the country's trade deficit was 8 trillion 11 billion 11 billion rupees. The largest trade deficit is with India and China. India has a deficit of 4 trillion 98 billion 34 billion rupees and China has a deficit of 1 trillion 90 billion 44 billion rupees. 

Along with neighboring countries, South Asian Regional Cooperation Organization (SAARC) countries also have a trade deficit. According to statistics, Nepal has bilateral trade with 159 countries. Among them, 35 countries have a trade profit and 124 countries have a trade deficit. While trade losses are running into trillions, profits are running into crores.

In 7 months, 91 million profit was made in trade with 35 countries. According to the data of the department, 124 countries have a deficit of 8 trillion 62 billion 23 billion. It is not that the export trade has not increased in 7 months. Exports have increased by 47 percent to over 1 trillion. But goods worth 9.88 billion 57 crores have been imported. 

The gap between import and export of goods is huge. Unfortunately, experts say that there is no immediate possibility of achieving foreign trade balance. For this, they say, emphasis should be placed on service trade. Dollars are withdrawn when purchasing goods. The alternative is to reduce commodity trade. They say that there is potential in tourism, energy and IT sector. When it comes to hydro, electricity can be exported. In the IT sector, although computer goods are imported, software can be manufactured and exported. They say that this can reduce the trade deficit of goods. 

According to the data of seven months, Afghanistan has 580 million, Denmark has 140 million business profit. Apart from these, other countries have less profit. Goods worth 1 trillion 27 billion 20 crore rupees have been exported in 7 months. This amount is 46.50 percent more than the same period of last financial year. In the first 7 months of the financial year 2080/81, goods worth 86.83 billion rupees were exported. 

For the first time in 10 months of 2077/78, goods worth 1.8 billion 47 crores were exported. After that, in 5 months of 2078/79, 1 trillion 2 billion 92 crores were exported. By the end of the 8th month of 2079/80, the export amount exceeded 1 trillion 4 billion 79 crores. In 2080/81, 1 trillion 61 crore worth of goods were exported in 8 months. In 2081/82, 1 trillion 27 billion 20 million items were exported in 7 months.  Although the increase in the export of

goods is good, the exported goods have increased the overall export by being value added. According to the Nepal-India trade agreement, goods produced in Nepal with 30 percent value addition get duty-free entry into the Indian market. 

Taking advantage of the same facility, industrialists are exporting oil. The industrialists also get advance payment while exporting to India. That is why exports have increased. According to the data, soybean oil worth 32.41 billion and sunflower oil worth 6.57 billion have been exported in 7 months. 

The export of these goods imported from third countries is not long-term. Experts say that it will be good for the country if it can be produced locally and exported. Mahesh Bhattarai, director general of the department, says that to contribute to the economy, not only domestic goods but imported raw materials can be processed and exported with value addition. He says that this will create some jobs in the country.