During this period, the Department has reported foreign trade worth NPR 2 trillion 411 billion 6.695 billion. With increases in both imports and exports, foreign trade has set a new record.
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In fiscal year 2082/83, goods worth NPR 20 trillion 97 billion 37 crore were imported, while exports amounted to NPR 3 trillion 15 billion 29 crore. According to the Department of Customs, total foreign trade increased by 15.88 percent compared to the previous fiscal year.
The department reported that foreign trade during this period reached NPR 24 trillion 11 billion 66 crore 95 lakh. With both imports and exports increasing, foreign trade set a new record.
Previously, in 2078/79, foreign trade had reached NPR 21 trillion 20 billion 47 crore. At that time, the increase in foreign trade was due to a rise in imports. According to the department’s data, foreign trade in fiscal year 2081/82 was NPR 20 trillion 81 billion 15 crore. Of the total trade, imports accounted for 86.93 percent and exports for 13.07 percent.
As overall foreign trade increased last fiscal year, the trade deficit also grew. Compared to the previous fiscal year, the trade deficit rose by 16.63 percent. Last fiscal year, the country’s trade deficit increased to NPR 17 trillion 81 billion 8 crore, up from NPR 15 trillion 27 billion 9 crore the previous year.
According to the department’s published data, imports increased by 16.20 percent last fiscal year compared to fiscal year 2081/82. Imports in the previous fiscal year were worth NPR 18 trillion 4 billion 12 crore, which rose to NPR 20 trillion 96 billion 37 crore last fiscal year.
Exports increased by 13.81 percent last fiscal year compared to the previous year. The department stated that exports were worth NPR 2 trillion 77 billion 3 crore in the previous fiscal year, rising to NPR 3 trillion 15 billion 29 crore last year. This export figure is the highest to date.
Last fiscal year, goods worth NPR 12 trillion 10 billion 60 crore were imported from neighboring India alone. Exports to India amounted to NPR 2 trillion 58 billion 65 crore. According to the department’s data, Nepal’s trade deficit with India alone exceeded NPR 9 trillion 51 billion 95 crore.
Nepal imported goods worth NPR 4 trillion 25 billion 24 crore from China, while exports to China amounted to only NPR 1 billion 89 crore. Nepal’s trade deficit with China stands at NPR 4 trillion 23 billion 35 crore. Last fiscal year, the highest volume of imports entered through the Birgunj customs point, totaling NPR 9 trillion 86 billion 43 crore, which is 47.05 percent of total imports, according to the department.
The top imported items include diesel, crude soybean oil, petrol, LPG, iron and iron products, and smartphones. According to the department, imports included NPR 1 trillion 72 billion 42 lakh worth of diesel, NPR 98 billion 83 lakh of crude soybean oil, NPR 77 billion 26 crore 50 lakh of petrol, NPR 60 billion 28 crore 6 lakh of LPG, NPR 58 billion 52 crore of semi-processed iron used in the iron and steel industry, and NPR 36 billion 79 crore 27 lakh worth of smartphones.
The top exported items were refined soybean oil, cardamom, carpets, refined sunflower oil, jute products, and palm oil. Exports included NPR 1 trillion 28 billion 74 crore worth of refined soybean oil, NPR 12 billion 64 crore 78 lakh of cardamom, NPR 10 billion 38 crore of carpets, NPR 8 billion 94 crore 33 lakh of sunflower oil, NPR 7 billion 14 crore of jute products, and NPR 6 billion 66 crore of palm oil.
According to the department, goods worth NPR 3 trillion 4 billion 17 crore (14.51 percent) were imported through the Bhairahawa customs point, NPR 2 trillion 41 billion 96 crore (11.54 percent) through Biratnagar, and NPR 2 trillion 3 billion 51 crore (9.71 percent) through Tribhuvan International Airport.
Birgunj customs point also leads in exports. Goods worth NPR 1 trillion 14 billion 85 crore, or 36.43 percent of total exports, were exported abroad from here. According to the department’s data, goods worth NPR 88 billion 72 crore (28.14 percent) were exported through Biratnagar, and NPR 37 billion 94 crore (12.03 percent) through Tribhuvan International Airport.
