Nepal’s International Trade At All-Time High
July 25, 2021 | Investopaper
According to the customs department, a new record has been set by importing goods worth Rs 15.40 Kharba in the last fiscal year 2077/78. The imports increased by 28.66 percent compared to the previous fiscal year 2076/77. In the previous year, the import of goods was Rs. 11.97 Khaba.
Similarly, the size of exports has crossed Rs 1 Kharba for the first time. According to the department, exports have increased by 44.43 percent and exceeded Rs 1.41 Kharba by the end of the fiscal year 2077/78. In the previous fiscal year, Nepal had exports of about Rs 98 Arba.
Despite the increase in exports, the trade deficit has also set a new record. The size of Nepal’s trade deficit has reached around Rs 14 Kharba in the last fiscal year. In the previous year 2076/77, the trade deficit stood at Rs 10.10 Kharba.
With the increase in imports and exports, the size of the overall international trade has exceeded Rs 16.80 Kharba which is also the highest so far. In the previous fiscal year 2076/77, the total trade was Rs 12.94 Kharba. The size of total trade has increased by 29.85 percent in the last fiscal year.
As the size of exports increased, its share in total trade increased from 7.55 percent to 8.40 percent. The share of imports has come down from 92.45 percent to 91.60 percent.
