Country’s Trade Deficit Exceeds Rs 460 Billion In Four Months

Kathmandu, Nov. 23: Country's trade deficit has crossed Rs 460 billion in the first four months of the current fiscal year.

As per the details released by the Customs Department, the country has imported goods worth Rs 513.38 billion while the export was limited to just Rs 52.67 billion during the first four of the current fiscal year ending mid-November.

Out of the total Rs 566.5 billion of foreign trade, Nepal witnessed a trade deficit of Rs 460.71 billion in four months, the Department said.

According to the Department, the imports increased by 0.17 percent and exports by 4.16 percent compared to the same period of the last fiscal year.

Nepal's trade deficit with India, the largest trading partner, has crossed Rs 281 billion while the trade deficit with India is more than Rs 103 billion during the four months.

In the four-month period, Nepal imported diesel worth Rs 29.4 billion, petrol of Rs 21.56 billion and LP Gas of Rs 18.85 billion.

Likewise, iron related goods and smartphones also topped the rank of the imported goods.

Meanwhile, Nepal exported carpet of Rs 3.6 billion as the key exportable goods in the four months followed by soyabean oil of Rs 3.41 billion, tea of Rs 2.21 billion and cardamom of Rs 1.9 billion.