Country’s Trade Deficit Reaches Around Rs 1 Trillion 100 Billion Till Second Quarters

Kathmandu, March 22: The country's foreign trade deficit has reached around Rs 1 trillion 100 billion till the second quarter of the current fiscal year 2025/26.

As per the foreign trade statistics till March 14 released by the Department of Customs today, out of Rs 1 trillion 440 billion and 360 million worth foreign trade, the country recorded Rs 1 trillion 98 billion and 130 million trade deficit.

The country imported goods worth Rs 1 trillion 289 billion and 250 million and exported goods worth Rs 1 billion 112 million in the last eight months, according to the Department.

The import has increased by 12.54 per cent and export by 29.83 per cent in the period as compared to corresponding period of the previous fiscal year.

Trade deficit with India is Rs 567 billion 390 million till March 14. Goods worth Rs 724 billion 60 million were imported from India and export stood at Rs 156 billion 660 million to India during the period.

Similarly, Nepal imported goods worth Rs 275 billion 660 million from India and exported goods worth Rs 983.3 million. The trade deficit with China amounted to Rs 264 billion 3 million and 600 thousand, added the report.

Other countries with which Nepal recorded large trade deficit, Argentina is in the third place, the United Arab Emirates in the fourth place and Indonesia in the fifth place.

Countries with which Nepal is in profit from its foreign trade include Romania, Norway, Iceland, Niger, Iraq, Kenya and others.

In the last eight months, Nepal has trade profit of Rs 506 million 500 thousand with Romania, Rs 33 million 300 thousand with Norway and Rs 25 million 700 thousand with Iceland.

During this period, the import of petroleum products is the highest. According to the Department, in the past eight months, diesel worth Rs 82 billion 105 million 100 thousand, petrol worth Rs 43 billion 897 million 300 thousand and LPG worth Rs 37 billion 313 million 700 thousand have been imported.

Similarly, unrefined soybean oil worth Rs 81 billion 186 million 400 thousand has been imported, while smartphones worth Rs 29 billion 935 million 900 thousand, iron products worth Rs 36 billion 823 million, gold worth Rs 23 billion 496 million 700 thousand, and silver worth Rs 18 billion 447 million 800 thousand have been imported.

Among the goods exported more by Nepal, soybean oil ranks first. In the past eight months, soybean oil worth Rs 75 billion 774 million 100 thousand has been exported.

Similarly, cardamom worth Rs 9 billion 490 million, carpets worth Rs 6 billion 539 million 600 thousand, sunflower oil worth Rs 6 billion 202 million 300 thousand and palm oil worth Rs 4 billion 320 million have been exported during this period.