Exports have also increased in the past three months. The department has stated that goods worth Rs 72.78 billion were exported in the month of Shrawan-Asoj.
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Sales of food, vegetables, clothing, and vehicles are higher during Dashain-Tihar than at other times. According to traders, one-third of the annual turnover occurs during Dashain-Tihar.
During the festive season, there is more buying and selling in small retail shops, big shops and outlets. Businessmen also import more goods targeting the festive season. The data of the Customs Department also shows the same trend.
In the first three months of the current fiscal year (Shrawan-Asoj), imports worth Rs 468 billion were recorded, according to the data released by the department on Sunday. This amount is 19.79 percent more than the first three months of 2081/82. Goods worth Rs 390 billion were imported in the three months of the last fiscal year.
Exports have also increased in the three months. The department has stated that goods worth Rs 72.78 billion were exported in Shrawan-Asoj. This is 89.64 percent more than the same period of the last fiscal year. Goods worth Rs 38.37 billion were exported in the first three months of last year.
According to the department, the share of exports in total trade is 13.46 percent. The share of imports is 86.54 percent, according to the department's data. As imports and exports increased, the foreign trade deficit has also increased by 26.04 percent. In the first three months of the current fiscal year, the foreign trade deficit has reached Rs 540 billion. In the first three months of the last fiscal year, the foreign trade deficit was Rs 429 billion. The import of goods including clothing has increased due to festivals, which has increased the import and export gap.
The main imported item is raw soybean oil. According to the department, unrefined soybean oil worth Rs 30.24 billion 8.7 million has been imported in the three months. Soybean raw materials imported from third countries are processed in Nepal and exported to India. According to experts, due to the export discount and advance payment facility, businessmen prefer to export soybean oil to India rather than selling it domestically.
Similarly, the department has data that 227,348 kiloliters of diesel worth Rs 20.69 billion 45 million have been imported. Diammonium hydrogen orthophosphate worth 17.11 billion 29 million rupees, petrol worth 16.76 billion 87 million rupees, LPG gas worth 13.98 billion 19 million rupees, smartphones worth 13.62 billion 75 million rupees, iron worth 12.51 billion 64 million rupees have been imported. Gold worth 8.83 billion rupees, gold worth 10.25 billion 32 million rupees and iron and steel products have been imported, according to the department.
Just as unrefined soybean oil ranks first in imports, the same item also leads in exports. According to the department, refined soybean oil worth 30.69 billion 78 million rupees has been exported in three months. Carpets worth 2.57 billion 54 million rupees, sunflower seeds and oil worth 2.13 billion 95 million rupees and other felt materials worth 1.73 billion 96 million rupees have been exported. Refined palm oil worth Rs 1.73 billion 34 million, cardamom worth Rs 1.67 billion 91 million, jute and other yarn worth Rs 1.59 billion 1 million, yarn worth Rs 1.43 billion 87 million and mixed juice worth Rs 1.27 billion 20 million have been exported.
Recently, businessmen are attracted to gold, which is considered safe for investment. That is why gold imports have increased in Nepal as well. While 100 kg of gold was imported in the three months of the last fiscal year, 600 kg of gold was imported in the same period of the current fiscal year, according to the Customs Department. According to the department, 601 kg of gold worth Rs 10.25 billion 32 million has been imported. According to the department, the government has collected Rs 1.25 billion 53 million in revenue from this.
In the three months of the last fiscal year, 100 kg of gold worth Rs 1.43 billion 32 million was imported. Commercial banks import raw gold, while businessmen buy the gold and sell it as jewelry. Last Asoj, the Rastra Bank increased the gold import quota by 5 kg per day. 'The daily quantity of gold that can be imported has been increased from 20 kg to 25 kg,' the National Bank said.
Gold jewellery worth Rs 71.5 million was imported in the first three months of the current fiscal year. Gold jewellery worth Rs 147.3 million was imported in the first three months of the last fiscal year. In the same period of the current year, 1,000 kg of silver worth Rs 201.3 million was imported. 8,130 kg of silver dust worth Rs 1.61 billion was imported. In the first three months of the last year, 5,465 kg of silver dust worth Rs 731.6 million was imported.
