Nepal records Rs 500 billion foreign trade in three months

KATHMANDU: Nepal’s foreign trade has increased by 68.13 per cent in the first three months of the current fiscal year.

It was worth Rs 323 billion 315 million 953 thousand in the first three months of the last fiscal year.

It has now reached Rs 543 billion 576 million 54 thousand in the corresponding period, according to the Department of Customs.

The data of foreign trade for the first quarter of the current fiscal year released by the Department shows that import has increased by 63.73 per cent in the first three months of the current fiscal year compared to the corresponding period last fiscal year.

Likewise, the imports have reached Rs 478 billion 523 million 220 thousand.

The imports were worth Rs 292 billion 269 million 860 thousand in the first three months of the last fiscal year.

The import-export ratio of foreign trade in the first three months of the current fiscal is 88.03: 11.97.

According to the available data, the export in the first three months of the current fiscal year has increased by 109.54 per cent compared to the corresponding period last fiscal year.

The export trade was worth Rs 31 billion 46 million 93 thousand in the first three months of the last fiscal year.

It is Rs 65 billion 528 million 34 thousand in the first three months of the current fiscal year.

Likewise, the trade deficit has increased by 58.28 per cent in the first three months of the current fiscal year and reached Rs 413 billion470 million 386 thousand.

It was Rs 261 billion 223 million 767 thousand in the corresponding period last fiscal year.

Out of the total foreign trade in the first three months of the current fiscal year, import is 7.36 times more compared to export.