Merchandise exports surge by 72.7 pc, imports by 13.1 pc in 10 months
KATHMANDU: Merchandise exports rose by 72.7% to Rs 217.91 billion in first 10 months of current fiscal year 2024/25, compared with 3.6% decline in the same period of the previous year, according to a report released by Nepal Rastra Bank (NRB) on Tuesday.
By destination, exports to India, China and other countries increased by 104.7%, 5.1% and 4.2% respectively. Exports of soybean oil, polyester yarn and thread, tea, jute goods and oil cakes, among others, grew, while exports of palm oil, zinc sheet, readymade garments, juice and cardamom declined during the review period.
Likewise, merchandise imports grew by 13.1% to Rs 1,474.19 billion in the first 10 months of current fiscal year, compared with 2.4% decline a year earlier, NRB data show.
By destination, imports from India, China and other countries rose by 7.9%, 15.1% and 28.3% respectively. Imports of crude soybean oil, rice/paddy, edible oil, transport equipment, vehicles and spare parts, and sponge iron, among others, increased, while imports of petroleum products, gold, electrical equipment, chemical fertiliser and coal declined in the review period.
All major export customs points reported increases except Jaleshwar, Kanchanpur and Tatopani. On the import side, all major customs points – including Bhairahawa, Biratnagar, Birgunj, Dry Port, Jaleshwar, Kailali, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuvan Airport – saw rises.
The total trade deficit widened by 6.7% to Rs 1,256.28 billion during the first 10 months of fiscal year 2024/25, after narrowing by 2.3% in the same period of the previous year. The export–import ratio rose to 14.8% from 9.7%.
Merchandise imports from India against payment in convertible foreign currency amounted to Rs 152.48 billion in the first 10 months of fiscal year 2024/25, up from Rs 122.02 billion a year earlier.
