Kathmandu. In the first three months of the current fiscal year, Nepal’s imports have increased by 38.18 percent while exports have increased by 57.03 percent. Although the growth rate of exports is higher than imports, the share of imports in the total trade is high, resulting in a trade deficit of Rs 532.49 billion.

According to the data of the Department of Customs, Nepal imported goods worth Rs 646.78 billion till mid-October of the current fiscal year. In the same period of the last fiscal year, imports worth Rs 468.08 billion were imported. According to the Department of Customs, there has been a significant increase in imports in the last one year.

Similarly, in the first three months of the current fiscal year, Nepal exported goods worth Rs 114.28 billion. In the same period of the last fiscal year, goods worth Rs 72.78 billion were exported.

Although both imports and exports have increased, the trade deficit has increased further as the volume of imports is more than exports. The trade deficit has reached Rs 532.49 billion till mid-September of the current fiscal year. Such deficit was Rs 395.30 billion in the same period of the last fiscal year. The trade deficit has increased by 34.71 percent in the current fiscal year compared to the three months of the previous fiscal year.

Nepal’s total foreign trade reached Rs 761.07 billion during the review period. The total foreign trade in the same period of the last fiscal year was Rs 540.86 billion. The total foreign trade in the current fiscal year has increased by 40.71 percent compared to the three months of the previous fiscal year.