Imports of more than Rs 150 billion in the first month of current fiscal year

Import of foreign goods has crossed Rs 150 billion in the first month of the current fiscal year.

The statistics related to trade in the first month of the current fiscal year 2021/22 released by the Department of Customs show that the country imported foreign goods worth Rs 150 billion 731 million 719 thousand in the first month of this fiscal.

This is an increase of 75.66 percent compared to the import in the first month of the last fiscal year. The import in the first month of the last fiscal year, 2020/21, stood at Rs 85 billion 807 million 900 thousand.

Similarly, goods worth Rs 20 billion 765 million 100 thousand were exported in the first month of the current fiscal year. A high rise has been witnessed in the export in the first month of the current fiscal year compared to the rest of the fiscal years. Goods worth Rs 9 billion 620 million were exported in the corresponding period of the last fiscal year.

Compared to the last fiscal year, export increased by 115.85 percent in the first month of the current fiscal year.

Likewise, Nepal witnessed a trade deficit equivalent to Rs 129 billion 966 million 600 thousand in the month of Shrawan alone. The trade deficit in the same period last fiscal year was Rs 76 billion187 million 900 thousand. This means the trade deficit in this fiscal year has increased by 70.59 percent compared to the last fiscal year.

As per one month's statistics released by the Department, petroleum products are top the commodities imported by Nepal.  Petroleum products worth Rs 18.13 billion were imported in one month.

Oil products worth over Rs 11.93 billion were exported from Nepal in one month.

Similarly, Nepal imported foreign goods worth Rs 150.73 billion from 102 different countries during one month.

As per the statistics, Nepal imported the highest amount of different types of goods worth Rs 89.48 billion from India in one month. Nepal imported a large number of goods worth Rs 20.97 billion from China after India during the same period.

Similarly, Nepal exported goods worth Rs 16.83 billion in India while Rs 80 million in China in one month.