KATHMANDU: Nepal’s trade with the international community has witnessed a significant decline, with foreign trade plunging by 36.69 billion rupees in the first ten months of the current fiscal year.

As of April, Nepal’s total foreign trade stands at 1.429 trillion rupees, marking a decrease from the previous year’s 1.466 trillion rupees.

During this period, Nepal incurred a trade loss of 1.177 trillion rupees, showing a reduction from the previous year’s deficit of 1.242 trillion rupees. This translates to a decrease in the trade deficit by 27.238 billion rupees.

The Customs Department reports a decline of 2.39% in imports and 3.61% in exports. Nepal exported only 126 billion rupees while importing 13.033 trillion rupees.

Comparatively, in the same period of the previous fiscal year, Nepal imported 1.335 trillion rupees and exported 130.9 billion rupees.

The import-export ratio stands at 10.33 (1.26%), with exports constituting 8.83% and imports dominating at 91.17% of the total trade.