In the first quarter of the current fiscal year, Nepal has incurred a loss of more than Rs 199 billion with India and Rs 104 billion with China.
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In the first quarter of the current fiscal year, Nepal has faced a trade deficit of more than Rs 300 billion with India and China alone. As imports exceeded exports, Nepal has faced a trade deficit of Rs 304.45 billion with the two neighboring countries.
According to the Customs Department, Nepal has imported goods worth Rs 258.87 billion from India in the first quarter of the current fiscal year (Shrawan-Asoj). During that period, Nepal has exported goods worth only Rs 59.12 billion. Due to which Nepal has had to bear a trade deficit of Rs 199.74 billion with India alone.
Similarly, Nepal has imported goods worth Rs 148.94 billion with its northern neighbor China in the first quarter of the current fiscal year (Shrawan-Asoj) while exporting only Rs 186.4 million. Due to which Nepal has borne a trade deficit of more than Rs 104 billion with China.
The country with the highest trade deficit after India is China. After that, Nepal has also borne a large trade deficit with countries like Afghanistan, Argentina, Australia, Bangladesh and the US.
Nepal is currently doing foreign trade with 140 countries, but the department's data shows that foreign trade with some countries, including Cyprus and the Bahamas, is profitable.
