KATHMANDU: Nepal imported goods worth nearly Rs 1.9 trillion during the first 11 months of the current fiscal year, according to the latest data released by the Department of Customs on Monday.
The department reported that merchandise imports totaled Rs 1.894 trillion during the review period, representing a 15.16 percent increase compared to the same period of the previous fiscal year.
Exports also recorded growth during the period.
According to customs data, Nepal exported goods worth Rs 277.97 billion in the first 11 months of the fiscal year, up 12.28 percent from Rs 247.57 billion recorded during the corresponding period last year.
Despite the rise in exports, the faster growth in imports pushed Nepal’s trade deficit higher.
The Department of Customs said the country’s trade deficit expanded by 15.67 percent during the review period as import growth outpaced export earnings.
Diesel remains top import item
Diesel was the single largest imported commodity during the first 11 months of the fiscal year.
Customs statistics show Nepal imported diesel worth Rs 152.68 billion during the period.
Soybean oil raw materials emerged as the second-largest import category, with imports valued at Rs 119.63 billion.
Soybean oil dominates exports
On the export front, soybean oil and related soybean products remained Nepal’s leading export items.
The country exported soybean oil and soybean-based products worth approximately Rs 113 billion during the review period.
Cardamom was the second-largest export commodity, generating export earnings of Rs 12.01 billion, according to the customs department.
The latest figures indicate continued growth in Nepal’s foreign trade activity, although the widening trade deficit remains a major challenge for the country’s external sector.
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