KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Nepal’s tea exports have surged by 52 percent in the first two months of the 2024/25 financial year, driven by increased demand from India, with exports rising from 2,902 metric tons last year to 4,412 metric tons this year.
The export value also climbed significantly, reaching Rs 1.13 billion, a 62 percent increase compared to the same period last fiscal year.
Meanwhile, as the Dashain festival approaches, market activity has intensified, particularly in Kathmandu’s wholesale areas, while the Birgunj Customs Office reported collecting 71 percent of its revenue target, largely due to increased petroleum imports.
In contrast, the Nepal Stock Exchange has faced a downturn, losing Rs 177 billion and experiencing a fourth consecutive week of decline.
Nepal’s tea exports surge by 52 percent
Tea exports from Nepal have soared by 52 percent in the first two months of the current financial year 2024/25, signaling a robust growth driven by heightened demand from India.
According to figures from the Mechi Customs Office, Nepal exported 4,412 metric tons of tea in July and August, a significant increase from the 2,902 metric tons shipped during the same period last year.
The value of Nepal’s tea exports has also seen a sharp rise. Data shows that tea worth Rs 1.13 billion was exported in the first two months of this year, marking a 62 percent increase compared to Rs 699.3 million during the same period in the last fiscal year.
Markets thrive as Dashain approaches
As Dashain approaches, the market is bustling with activity.
Wholesalers and porters are busy transporting and managing goods for the festival.
In the wholesale market areas of Ranjana Galli, Khichapokhari, Mahabuddha, Asan, Indra Chowk, and other parts of New Road—Kathmandu’s traditional commercial hub—there’s a noticeable increase in the movement of Dashain goods.
Shops from various regions are seeking supplies to meet the festive demand.
Birgunj Customs achieves over 71 per cent revenue collection target
The Birgunj Customs Office has collected 71 per cent of its targeted revenue in the first two months of the current fiscal year.
According to the Customs Office at Parsa district, the office amassed over Rs 25 billion in revenue out of Rs 35 billion target.
Chief Revenue Administrator Deepak Lamichhane shared that the revenue collection was increased by Rs 1 billion during this period compared to the same period last fiscal year.
He attributed the increase in revenue to the import of petroleum products in a large quantity during this period.
NEPSE experiences drop as investors lose Rs 177 billion
The Nepal Stock Exchange (NEPSE) fell by 111.77 points last week, marking its fourth consecutive week of decline.
The secondary market opened at 2,688.53 points on Sunday and closed at 2,576.76 points by Wednesday, the final trading day of the week.
Throughout this period, the index peaked at 2,734.58 points and dipped to 2,551.40 points, reflecting a volatility of 183.18 points.
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