Nepal Breaks Annual Export Record in 8 Months of Current Fiscal Year Itself

Nepal has reported the highest export revenue in the first eight months of the current fiscal year 2078/79, higher than any entire fiscal year in history.

According to the foreign trade statistics unveiled by the Department of Customs, more than Rs. 1.47 Kharba worth of exports have been recorded till Falgun of this fiscal year. In comparison, export worth Rs. 1.41 Kharba was reported at the end of the previous fiscal year 2077/78.

Compared with the corresponding figure of the previous fiscal year, the country has seen a massive 82.9% rise in exports. Rs. 16.9 Arba worth of export was reported in the month of Falgun itself.

Meanwhile, the total import figure is at Rs. 13.08 Kharba, a 38.64% rise compared to the corresponding period in the previous fiscal year. This has led to the total trade deficit rising 34.5%. Nonetheless, the import-export ratio has fallen to 8.86 from 11.69 last year.

As of now, export contributes a 10.14% share in the total trade figure in the country. Till Falgun last fiscal year, this figure was at 7.88%.

This is Nepal's most valuable exports in terms of total export value:

1) Soyabean oil and fractions
2) Refined bleached deodorized palm olein
3) Palm oil and fractions
4) Carpets and floor coverings (wool or fine animal hair)
5) Woven fabric of jute or other textile

In contrast, this is the country's largest imports:

1) Diesel
2) Petrol
3) Petrol engine vehicles with capacity 1000 to 1500 cc
4) Motorcycles with reciprocating engine of capacity 50 to 125 cc
5) Liquefied petroleum gas (LPG)