Last year, Nepal imported goods worth NPR 11.638 billion from Argentina, while it exported goods worth only NPR 18.525 million.
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Argentina is a well-known country among Nepalis. Whether it is the World Cup or Copa America, Argentina is often a topic of discussion among Nepalis. This time, since Argentina has reached the finals, there has been even more talk about Argentina throughout the World Cup. However, many may not know that Nepal has a significant trade deficit with Argentina.
According to the Department of Customs' statistics for the fiscal year 2082/83, Nepal's trade deficit with Argentina stands at NPR 116.36 billion 87 lakh 10 thousand.
Last year, Nepal imported goods worth NPR 116.38 billion 72 lakh 35 thousand from Argentina, while exports to Argentina amounted to only NPR 18 million 52 lakh 50 thousand. Nepal's imports from Argentina account for about 18 percent of its total annual imports. Last year, Nepal imported goods worth around NPR 2.1 trillion from various countries.
What does Nepal import from Argentina?
Among goods imported from Argentina, which is about 16,000 kilometers away by air, the largest is crude soybean oil. Last year, Nepal imported nearly 600 million liters of crude soybean oil from Argentina, for which NPR 98.83 billion 99 lakh was spent.
Similarly, 100 million liters of crude sunflower oil worth NPR 17.33 billion were imported. Nepal also imported 908,000 kilograms of maize seeds from Argentina, worth about NPR 90 million.
Nepal imported coriander seeds worth NPR 37.1 million from Argentina. Similarly, beans worth NPR 34 million and sesame seeds worth NPR 26.3 million were also imported.
On the export side, Nepal sent various electronic equipment worth NPR 14.2 million to Argentina. Likewise, musical instruments such as drums and xylophones worth NPR 2.52 million were exported to Argentina. Additionally, two kilograms of dalmoth were also exported to Argentina.
What is Nepal's trade relationship with world champion Spain?
Nepal also has a trade deficit with this year's world champion, Spain. According to the Department of Customs, last year Nepal imported goods worth about NPR 166 million from Spain. Nepal, on the other hand, exported goods worth about NPR 370 million to Spain.
The trade deficit with Spain is about NPR 129 million. The largest imports from Spain are pet foods for dogs and cats. Last year, Nepal imported such goods worth NPR 160 million from Spain. Similarly, six silos used for grain storage were imported from Spain, valued at nearly NPR 140 million.
A silo is a specially constructed structure designed to safely store large quantities of agricultural products such as wheat, rice, maize, barley, soybeans, pulses, and animal feed. Unlike traditional storage methods, grain silos protect grains from moisture, insects, rodents, and other types of contamination, keeping them safe in a controlled environment.
Similarly, Nepal imported vehicles equipped with mobile veterinary diagnostic facilities worth NPR 130 million from Spain. The government provides up to a 50 percent customs duty exemption on the import of such equipment and vehicles.
Nepal's largest exports to Spain are woolen garments such as shawls, scarves, and mufflers. According to the department's statistics, Nepal exported nearly NPR 90 million worth of these goods to Spain.
Similarly, cotton trousers for women worth NPR 61.4 million were exported to Spain. Musical instruments such as drums and xylophones worth NPR 47.2 million were also exported from Nepal to Spain.
