Merchandise exports surge by 81.8 pc, imports by 13.3 pc in FY 2024/25

KATHMANDU: Merchandise exports rose by 81.8% to Rs 277.03 billion in fiscal year 2024/25. The increase follows a 3.0% contraction in previous year, according to the latest macroeconomic and financial situation report released by Nepal Rastra Bank (NRB) on Sunday.

By destination, exports to India increased by 117.8%, to China by 1.6% and to other markets by 6.7%.

Exports of soya-bean oil, polyester yarn and thread, jute goods, tea and footwear, among others, rose, while exports of palm oil, zinc sheets, juice, ginger and readymade garments fell over the review period.

During the fiscal year 2024/25, merchandise imports grew by 13.3% to Rs 1,804.12 billion, reversing 1.2% decline a year earlier. Imports from India rose by 7.5%, from China by 14.2% and from other countries by 31.7%.

Imports of crude soya-bean oil, transport equipment, vehicles and spare parts, rice/paddy, edible oil and sponge iron increased, whereas imports of petroleum products, aircraft spare parts, gold, chemical fertiliser and electrical equipment decreased during the same period.

By customs point, exports from Bhairahawa, Biratnagar, Birgunj, Dry Port, Kailali, Mechi, Nepalgunj, Rasuwa and Tribhuvan Airport customs offices increased, while exports from all other major customs points declined. On the import side, imports via Jaleshwor and Tribhuvan Airport customs offices fell, whereas imports through all other major customs points rose.

The total trade deficit widened by 6.0% to Rs 1,527.09 billion in 2024/25, after narrowing by 1.0% in the previous year. The export–import ratio improved to 15.4% from 9.6%.

Merchandise imports from India paid for in convertible foreign currency amounted to Rs 181.15 billion in 2024/25, compared with Rs 151.76 billion in the prior year.