Kathmandu. Nepal’s foreign trade reached a new height in the last fiscal year 2081/82 BS. According to the Department of Customs, both import and export figures are at an all-time high. In the last fiscal year, half of Nepal’s total exports were imported crude soybean oil and crude sunflower oil.

According to the data released by the Department of Customs today, Nepal’s foreign trade amounted to Rs 2,081.15 billion in the last fiscal year 2081÷82 BS.

In the last fiscal year, goods worth Rs 1,804.12 billion were imported and exports worth Rs 277.3 billion were exported. As a result, Nepal has suffered a trade deficit of Rs 1,527 billion. According to Department Director Kishor Bartola, both imports and exports of the last fiscal year are at an all-time high.

Imports increased by 13.25 percent and exports by 81.80 percent in the last fiscal year compared to the previous fiscal year 2080/81. The overall foreign trade increased by 19.24 percent, while the trade deficit increased by 6 percent. The share of imports in total foreign trade is 86.69 percent and the share of exports is 13.31 percent.

Nepal imported rs 1,071.20 billion and exported goods worth Rs 224.68 billion from India in the last fiscal year. As a result, Nepal has suffered a trade deficit of Rs 846.51 billion with India alone.

Similarly, goods worth Rs 341.10 billion were imported from China while exports worth Rs 26.3 billion were exported. Nepal has a high trade deficit with countries like Argentina, Ukraine and the United Arab Emirates.