KATHMANDU, Sept 17: Nepal’s export trade surged sharply in the first month of the current Fiscal Year (FY), rising by 95.7 percent to Rs 23.93 billion. In contrast, exports during the same period last year had declined by 9.6 percent.
By destination, exports to India increased by 156.7 percent, while exports to China and other countries dropped by 65.2 percent and 1.4 percent, respectively.
On a commodity basis, exports of soybean oil, palm oil, polyester yarn, cardamom, and jute goods increased, whereas exports of zinc sheets, particle boards, woolen carpets, foam and tea decreased.
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Meanwhile, the country’s trade deficit in the first month amounted to Rs 119.11 billion, marking a 2.5 percent rise compared to the same period last year when it had grown by 0.4 percent.
Total imports rose by 11.4 percent in the review period, reaching Rs 143.04 billion, while last year imports had declined by 0.6 percent. Imports from India, China, and other countries increased by 7.5 percent, 14.1 percent, and 20.5 percent, respectively.
In terms of commodities, imports of crude soybean oil, transport equipment, vehicles and spare parts, rice, coal, and chemical fertilizers rose, while imports of hot rolled sheets in coils, edible oil, petroleum products, other machinery and parts, and oilseeds declined.
The export-to-import ratio stood at 16.7 percent in the review period, compared to 9.5 percent a year ago. Imports worth Rs 13.43 billion were paid in convertible foreign currency through India, slightly lower than Rs 13.98 billion in the same period last year.
