Nepal imports goods worth Rs 123 billion in one month « Khabarhub
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Nepal imports goods worth Rs 123 billion in one month

23 December 2020  

Time taken to read : 3 Minute

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KATHMANDU:  Nepal has imported goods worth Rs 123 billion in a month.

In the first five months of the current Fiscal Year, a total of Rs. 525.49 billion worth of goods have been imported.

It has seen high imports in 16 November-15 December. Goods worth Rs 123 billion have been imported to Nepal this month alone.

Similarly, goods worth Rs 112 billion were imported in 17 October-15 November. According to the data released by the Customs Department, there is no encouraging increase in exports despite indications that imports will return to normal. Goods worth Rs 50.05 billion have been exported in the first five months alone.

However, overall imports declined by 9.59 percent compared to the same period last year.

According to the data for the last five months, exports also increased by 5.12 percent compared to the same period of the previous year.

The overall foreign trade volume has declined in the last five months. The total foreign trade in the current fiscal year is Rs. 575.55 billion.

Such amount was Rs. 628.87 billion in the corresponding period of the previous year. Overall foreign trade fell 8.48 percent.

Imports account for 91.30 percent of Nepal’s foreign trade. Exports account for only 8.70 percent. However, the share of exports increased by 14.86 percent compared to the same period of the previous year.

However, due to very low growth in exports, it has not been able to play a role in reducing trade deficit.

Foreign trade in first five months

Imports: Rs. 525.49 billion (decreased by 9.59 percent)

Exports: 50.05 billion (up 5.12 percent)

Trade deficit: 475.44 billion (decreased by 10.91 percent)

Total Foreign Expenditure: Rs. 575.55 billion (decreased by 8.48 percent)

The share of imports in trade: 91.30 percent (decreased by 1.22 percent).

Export to trade: 8.70 percent (up 14.86 percent)

Publish Date : 23 December 2020 20:21 PM

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