Merchandise exports rise 18.5 pc, imports rise 13.8 pc in 9 months: NRB
KATHMANDU: Merchandise exports and imports grew while the trade deficit widened in the first nine months of fiscal year 2025/26, Nepal Rastra Bank (NRB) said in its macroeconomic and financial situation report released on Monday.
The merchandise exports rose 18.5% to Rs 222.94 billion during the review period, compared with a 65.2% increase in the same period a year earlier. Exports to India increased 22.6%, and exports to other countries grew 5.1%, while exports to China fell 46.8%. Shipments of soyabean oil, cardamom, palm oil, jute goods and noodles recorded gains, whereas exports of zinc sheet, particle board, tea, woollen carpet and handicraft goods declined.
Meanwhile, merchandise imports increased 13.8% to Rs 1,490.50 billion, up from 12.2% growth a year ago. Imports from India rose 7.8%, from China by 21.3% and from other countries by 24.2%. The NRB noted higher imports of chemical fertiliser, crude soyabean oil, silver, transport equipment, vehicles and spare parts, and petroleum products, while imports of edible oil, hot‑rolled sheet in coil, garlic, pulses and MS billet decreased.
The total trade deficit widened 13.0% to Rs 1,267.56 billion in the nine months of fiscal year 2025/26; the deficit had increased 6.4% in the corresponding period of the previous year. The export‑import ratio edged up to 15.0% from 14.4% a year earlier. Merchandise imports from India paid in convertible foreign currency amounted to Rs 140.53 billion during the review period, compared with Rs 135.55 billion in the same period of the previous year.
By broad economic categories, final consumption goods accounted for 69.4% of total exports, intermediate goods 29.8% and capital goods 0.8% in the review period. In the same period a year earlier, the shares were 65.3%, 33.5% and 1.2% respectively. On the import side, final consumption goods made up 37.5%, intermediate goods 53.3% and capital goods 9.2% of total imports in the nine months; the comparable ratios a year earlier were 39.4%, 51.7% and 8.9%.
Additionally, customs‑based unit value indices showed the year‑on‑year export price index rose 3.1%, while the import price index increased 13.6% in the ninth month of 2025/26. Reflecting faster import price growth, the terms of trade index declined by 9.2% during the same month.
The NRB said the data point to continuing external sector pressures as rising import bills and higher import prices weigh on the trade balance despite export gains.
