Trade deficit of more than Rs 10 kharba in 11 months; Nepal registers trade surplus with 26 countries & trade loss with 126 countries

Nepal’s trade loss has been increasing year after year. In this current fiscal year Nepal has already been waging trade deficit of more than Rs 10 kharba in the 11 months’ period.

In this 11 month period, Nepal has imported goods worth Rs 11.06 kharba while the amount of export equals only Rs 74.32 arba.

In the current fiscal year, Nepal has been involved in foreign trade with 152 countries.

Out of the 152 countries, Nepal bears trade deficit with 126 countries i.e. Nepal imports more from the countries than it exports to those countries.

India as always remains Nepal’s number 1 trade partner. Nepal has imported goods worth Rs 7.32 kharba from India while the export amounts to Rs 42.46 arba. It makes the trade deficit of Rs 6.89 kharba with India.

Similarly, Nepal has registered trade loss of Rs 1.40 kharba with China, Rs 11.61 arba with Vietnam, Rs 11.82 arba with Thailand, Rs 11.51 arba with Indonesia, Rs 9.66 arba with Argentina, Rs 8.67 arba with Dubai and Rs 9.28 arba with Korea.

Nepal has trade surplus only with the 26 countries out of the 152 countries it has traded with. Nepal has been able to register trade surplus with Kuwait, Uganda, Croatia, Afghanistan, Iceland, Yemen, Maldives and Bolivia. The trade with Bahamas, Armenia, Zimbabwe, Zambia, Uruguay and Tajikistan has also been profitable for Nepalese economy.