KATHMANDU: Nepal’s foreign trade has seen a growth of 4.21 percent in the first five months of the current fiscal year, according to data released by the Customs Department on Sunday.
The total foreign trade reached Rs 661.49 billion during the review period, compared to Rs 642.21 billion in the same period last year.
The data shows a 3 percent increase in imports, which have risen to Rs 588.5 billion this year, up from Rs 571.93 billion in the first five months of the previous fiscal year.
Exports have also improved, recording an increase of 16.54 percent. Nepal’s exports reached NPR 73.66 billion during this period, up from NPR 63.21 billion in the same period last year.
Despite the growth in both imports and exports, Nepal continues to face a significant trade deficit.
The trade deficit during the review period has increased by 1.52 percent, reaching NPR 587.82 billion compared to the same period in the previous fiscal year.
Comment