KATHMANDU: Nepal’s foreign trade deficit increased by 34.71 percent in the first three months of the current fiscal year 2083/84. According to data released by the Department of Customs on Wednesday, the trade deficit reached Rs 532.49 billion between mid-July and mid-October. During the same period last fiscal year, the deficit stood at Rs 395.30 billion.
Total foreign trade rose by 40.71 percent to Rs 761.07 billion during this period. Imports accounted for 84.98 percent of total trade, while exports made up 15.02 percent. Imports grew by 38.18 percent to Rs 646.78 billion, while exports saw a 57.03 percent increase, reaching Rs 114.28 billion.
Although the export growth rate outpaced imports, the overall share of exports in total trade remains low. The import-export ratio shifted from 6.43 to 5.66. Data shows that diesel was the top import item, totaling Rs 47.31 billion. Other major imports included soybean oil at Rs 29.20 billion, petrol at Rs 24.62 billion, cooking gas at Rs 23.18 billion, and iron and steel products at Rs 14.41 billion.
Soybean oil remained the leading export commodity, with Rs 52.60 billion worth of the product exported to India. Other significant exports included jute and jute-based products at Rs 29.67 billion and cardamom at Rs 25.72 billion, according to the Department of Customs.
