Nepal imports goods from 164 countries

According to statistics unveiled by the Department of Customs on Monday, Nepal imported goods worth over Rs 1,920 billion from those countries last fiscal year.

The statistics show that Nepal purchased goods worth over Rs 1,200 billion from India alone while the export was of worth Rs 155 billion.

It means the country’s trade deficit with India alone was over 1,044 billion last fiscal year.

After India, China is the second largest goods supplier to Nepal as in one year Nepal imported goods worth over Rs 264 billion and the export round figure was Rs 887 million, resulting in trade deficit of worth around Rs 264 billion.

Trade deficit goes up

The size of country’s trade deficit is increasing year by year.

Last fiscal year, the figure of trade deficit increased by 23 percent in compared to the previous fiscal year.

According to the Department, the trade deficit had reached over Rs 1,720 billion last fiscal year and it was over Rs 1,398 billion in the previous year.

In one year, Nepal saw foreign trade of worth over Rs 2,120 billion and this was more by 26.15 percent than of the previous year.

In the fiscal year 2077-78 BS (2020-21), the country’s foreign trade transactions was worth around Rs 1,681 billion.