Nepal's Import Up By 27.5%, What Is The Country's Biggest Imports/Exports This Fiscal Year?

Nepal's foreign trade statistics for the first eleven months of the fiscal year 2078/79 have been unveiled. Nepal’s trade deficit rose 25 percent to Rs. 15.77 Kharba as against Rs. 12.62 Kharba in the previous year, the government data showed on Tuesday. The trade deficit is the amount by which the cost of a country's imports exceeds the value of its exports.

Talking about the country's exports, they crossed Rs. 1.85 kharba in a fiscal on healthy performance by sectors such as animal oils, man-made staple fibers, palm oils, carpets, and related floor coverings, according to the customs department's data. Previously, Nepal had managed to export goods worth Rs. 1.21 Kharba. Exports have increased by 53.3 percent in the current fiscal year as compared to last year.

Here is the list of the most exported goods by Nepal during the first ten months of the Fiscal Year. (Shrawan-Jestha);

Imports during this period, saw an incline of 27.5 percent, amounting to RS. 17.63 kharba. However, In the corresponding period of the previous year, Nepal had imported goods worth Rs. 13.83 Kharba.

Mineral fuels/oils remained the top imported items, with an increased demand for LPG, Irons, coal, and other vegetable oils.

Here is the list of the top ten imported goods by Nepal during the first ten months of the Fiscal Year. (Shrawan-Jestha).

It is worth noting that raw materials and intermediates account for a considerable proportion of Nepal’s exports, while finished products have an overwhelming presence in Nepal’s imports basket. 

Nepal imported the highest worth of goods from India. China is the second-largest importer of Nepal, followed by the United States, and Indonesia.

On the other side, Nepal exports the most goods to India. The USA is the second-largest exporter of Nepalese products. It is then tailed by Germany.