KATHMANDU: Nepal’s foreign trade has increased by 15.29% in the first eight months of the current fiscal year compared to the same period last year, according to data released by the Customs Department.
The total foreign trade volume reached Rs 1.3 trillion as of February, up from Rs 1.13 trillion in the previous fiscal year.
Imports rose by 11.02% during the review period, amounting to Rs 1.14 trillion compared to Rs 1.03 trillion in the same period last year. Meanwhile, exports saw a significant surge of 57.20%, reaching Rs 158.17 billion compared to Rs 100.6 billion in the previous fiscal year.
Despite the increase in foreign trade, Nepal’s trade deficit also widened by 6.22%. The trade deficit rose from Rs 929.60 billion last fiscal year to Rs 987.39 billion as of February this year.
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