KATHMANDU: In the seven months of the current fiscal year 2080/81, imports have decreased by 2%, while exports have declined by 7%.

According to data released by the Department of Customs, in the foreign trade statistics from Shrawan (July 17) to Magh (February 12), Nepal’s exports are at an extremely low level compared to imports.

The data shows that in the seven months, imports have decreased by 2.31%, reaching Rs 897.94 billion.

In the same period of the previous fiscal year, Nepal imported goods and commodities worth Rs 919.16 billion from various countries.

Similarly, from February 12 until now, the export of goods and products from Nepal to various countries has decreased by 7.07%, totaling Rs 86.83 billion.

In the same period of the last fiscal year, Nepal exported goods and items worth Rs 93.43 billion to different countries.

During these seven months, Nepal has incurred a trade deficit of Rs 811 billion in foreign trade.

This represents a 1.77% decrease compared to the same period of the previous fiscal year, where Nepal faced a trade deficit of more than Rs 825 billion.

This is a significant decline of more than 13 billion in the current fiscal year.

Furthermore, after the decline in both imports and exports, the total foreign trade stands at Rs 984.77 billion.

Compared to the same period of the previous fiscal year, which recorded Rs 1012.59 billion, this fiscal year has seen a 2.75% increase in total foreign trade in the seven months