KATHMANDU: The Central Bureau of Statistics has reported that Nepal’s foreign trade amounted to a total of Rs 1.281 trillion during the current fiscal year (FY 2080/081) in the first nine months.

During the same period last year, foreign trade amounted to Rs 1.319 trillion.

According to department statistics, this year’s foreign trade has decreased by 3 percent compared to last year, equivalent to Rs 38 billion.

In the first 9 months of the current fiscal year, imports amounted to Rs 1.167 trillion, while exports stood at Rs 113.94 billion, according to department data.

The department has also reported that Nepal’s trade deficit has decreased by Rs 105.42 billion compared to the same period last year when imports amounted to Rs 1.215 trillion and exports were Rs 118.27 billion.

Similarly, Nepal’s trade deficit was Rs 1.083 trillion last fiscal year. With a decrease in both imports and exports in the current fiscal year, Nepal’s trade deficit has reduced by 2.75 percent.