Nepal sees trade deficit with 112 countries; Deficit with India the most at Rs.222 Billion
-RSS
A data has revealed that Nepal has a trade deficit with 112 countries of the globe. According to the recent three months data disclosed by the Department of Costums, Nepal has trade surplus with only 28 countries and deficit with 112 countries out of 140 across the globe.
Nepal has witnessed the highest volume of trade deficit with neighbouring countries, India and China. The data revealed that Nepal has the trade deficit amounting over Rs 222.9 billion. During the period of latest three months, Nepal has imported goods worth amounting to Rs 236.1 billion from India. On the other, Nepal has exported goods worth Rs 13.16 billion in the span.
Likewise, Nepal has second trade deficit with China. It came to revelation that Nepal has imported goods worth over Rs 53.11 billion from China. In the corresponding period, Nepal has exported several goods to China that worth Rs 560.4 million.
With this, there is the trade deficit of Rs 52.55 billion between Nepal and China.
Nepal has the third trade deficit with European country, France. Goods worth Rs 14.26 billion were imported from France during the period while Nepal has exported the goods worth amounting to Rs 352.2 million.
Similarly, Nepal's trade deficit with the United Arab Emirates (UAE) is worth Rs 7.87 billion and this figure puts the UAE at the fourth country that Nepal faces trade deficit with. Nepal exported goods worth Rs 37.54 million while it paid over Rs 7.9 billion to it for imports.
Nepal faces a trade deficit with Thailand, Switzerland, Indonesia, Canada, Malaysia, Argentina, Ukraine, Saudi Arabia, South Africa, Italy, Vietnam, South Korea, Australia, Turkmenistan, Taiwan, Japan, Singapore and Hong Kong including others.
The report shows Nepal's import from Albania was valued at Rs 140,000 while there has been no export from Nepal during the period.
However, Nepal's balance of trade with Rwanda is positive with a slight profit as it brought commodities equivalent to Rs 120,000 from Rwanda and sent goods worth Rs 220,000.
Likewise, Nepal's exports from the United States of America exceeds the imports. Nepal made a trade worth Rs 3.19 billion and the profit was measured at Rs 668.3 million.
Other countries that Nepal has so far maintained a positive BoT are Norway, Finland, Austria, the Maldives, Morocco, Estonia, Afghanistan, Lebanon, El Salvador, Uruguay and Cyprus.
In the past three months, Nepal recorded a trade deficit worth over Rs 3.49 billion with the export of Rs 23.74 billion.
