Although imports from the Birgunj border increased in the first quarter of the current fiscal year, exports of soybeans, sunflower, and palm oil have increased significantly.
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Imports from the country's main port of Birgunj have increased by about 20 percent in the first quarter of the current fiscal year.
Compared to the same period of the previous fiscal year, both imports and exports have increased. However, the trade deficit through this border has decreased due to a significant increase in exports compared to imports.
According to the data of the Birgunj Customs Office, goods worth Rs 282.42 billion were imported from India and third countries through this border in the first quarter of the current fiscal year. Goods worth Rs 240.80 billion were imported in the same period of the previous fiscal year. Comparatively, goods worth Rs 41.62 billion more were imported in the first quarter of the current fiscal year than in the previous fiscal year. The main goods imported through this border include fuel, vehicles, iron products, alcohol, etc.
On the export side, Nepali goods worth Rs 32.95 billion were exported to India and third countries in the first quarter of the current fiscal year. Goods worth Rs 13.62 billion were exported to India and third countries in the same period of the previous fiscal year. Comparatively, goods worth Rs 1.42 billion more have been exported in the first quarter of the current fiscal year compared to the first quarter of the previous fiscal year.
Uday Singh Bista, Information Officer at Birgunj Customs Office, says that the main reason for the increase in exports from this border point in the first quarter of the current fiscal year is the increase in exports of Nepali soybean oil, sunflower oil and refined palm oil to India. ‘The export of these oils to India has increased sharply, and the overall export has increased,’ he said. ‘Although exports of other goods to India and third countries are normally taking place regularly, the export of these oils has started to increase enthusiastically.’
Bista says that the increase in exports of these oils will not contribute much to revenue. ‘As exports increase, the inflow of foreign currency will definitely increase, but it will not contribute much to revenue,’ he said, ‘A total of Rs 113 is collected for each consignment form of export. This has been done to promote exports.’
According to the office’s data, 84 million liters of soybean oil worth Rs 17.32 billion has been exported to India through this checkpoint in the first quarter of the current fiscal year. In the same period last fiscal year, 8.764 million liters of soybean oil worth Rs 2.02 billion had been exported through this checkpoint.
In the first quarter of the current fiscal year, 32.4 million liters of sunflower oil worth Rs 2.09 billion had been exported to India through this checkpoint. In the same period last fiscal year, 6.489 million liters of sunflower oil worth Rs 1.11 billion had been exported through this checkpoint.
In the first quarter of the current fiscal year, 8.514 million liters of refined palm oil worth Rs 1.54 billion were exported to India through this border crossing. In the same period of the previous fiscal year, 2.23 million liters of refined palm oil worth Rs 40 million were exported to India.
