Country’s export, import shrink in first month of current Fiscal Year

Nepal Foreign Affairs (KATHMANDU, 23 August 2022) – Amid fear for ballooning trade deficit and pressure on balance of payment (BoP) in the last fiscal year, the country total import has decreased 13 percent in the first month of the current fiscal year.

According to a report released by the Customs Department today, the total import decreased by 12.90 percent while the total goods export decreased by 28.68 percent in the month of Sawan. In terms of value, country imported goods worth Rs 131.28 billion in this month against the total import of Rs 150.73 billion in the corresponding period last year.

As per the data of the Customs Department, country had exported goods worth Rs 20.76 billion in the same period of the last fiscal year while the exports in this year decreased to Rs 14.81 billion. Likewise, the total amount of trade deficit has deceased to Rs 116.47 billion against Rs 130 billion of same period of the last year. The Department stated that a total of Rs 31.96 billion in revenue was collected from the import of goods in the first month of the current fiscal year.

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