Kathmandu. In the last fiscal year 2081/82, the share of soybean oil in the goods exported by Nepal is the highest. Sunflower oil is the fourth most exported commodity after iron products and yarn.

Import and export of these goods, which are being imported from outside and processed and packaged and exported instead of Nepal’s own production, has increased abnormally in the last fiscal year.

According to the Trade and Export Promotion Center, the export of soybean oil has increased by 11,732 percent in the last fiscal year. Last year, the share of soybean oil in Nepal’s total exports was only 38.5 percent. Of the total exports of Rs 277 billion, the share of soybean oil is rs 106.79 billion.

“During the review period, the export of groundnut oil increased by 11,733 percent to Rs 106.79 billion. Exports of iron and iron products declined by 6.01 per cent to Rs 16.36 billion,” according to the Foreign Trade Status Report released by the Centre for the last fiscal year.

Similarly, the export of sunflower oil increased by 7,436 per cent to Rs 12.33 billion. According to the Center, the export of yarn increased by 19.85 percent to Rs 14.4 billion in the last fiscal year.

Woollen carpet exports also increased by 1.93 percent to Rs 10.78 billion. Exports to Nepal’s own products have declined compared to the previous fiscal year as the share of goods being exported after normal value addition by importing raw and semi-processed goods from abroad has increased.

“Exports of readymade garments declined by 2.39 per cent to Rs 8.75 billion, while plywood exports declined by 4.26 per cent to Rs 7.09 billion,” the centre’s report said. ’

The export of juice slipped by 11.41 per cent to Rs 7.72 billion, while the export of ginger declined by 50.38 per cent to Rs 580 million.

According to the Centre, the export of jute and jute products increased by 16.81 percent to Rs 8.23 billion in the last fiscal year. Similarly, woollen felt exports increased by 716 percent to Rs 5.14 billion.

Similarly, the export of tea, another product which is leading in the export of agricultural products, has also increased by 26.64 percent to Rs 4.59 billion. According to the Centre, the export of pina (oil cake) has increased by 22.80 percent to Rs 3.63 billion.

Nepal’s exports to India increased by 117.8 per cent to Rs 224.68 billion in the last fiscal year alone. India’s share of Nepal’s total exports has increased from 67.71 percent in the same period of the previous fiscal year to 81.10 percent in the last fiscal year.

Other important countries in Nepal’s export trade are usa, germany, uk, uae, china, france, australia, japan, italy, canada, turkey, netherlands and afghanistan.

Similarly, crude vegetable oil is at the top of the list of commodities that have seen the highest increase in imports. Import of crude oil has increased by 711.96 percent to Rs 108.95 billion in the last fiscal year.

Import of petroleum products declined by 4.29 percent to Rs 287.65 billion in the last fiscal year compared to the previous fiscal year. Imports of iron and steel and their products increased by 10.18 percent to Rs 162.5 billion. Import of machinery and parts increased by 12.98 percent to Rs 124.15 billion.

Similarly, imports of electric and electronic goods increased by 5.68 percent to Rs 73.88 billion, while imports of transport vehicles and their parts increased by 27.26 percent to Rs 109.12 billion. Crude palm oil imports declined by 35.68 per cent to Rs 6.82 billion.

Similarly, the import of food grains increased by 32.72 percent to Rs 60.78 billion in the last fiscal year, while the import of readymade garments increased by 16.79 percent to Rs 41 billion.

In the last fiscal year, telecom equipment worth Rs 43.08 billion and gold worth Rs 19.95 billion were imported. India, China, Argentina, Usa, UAE, Ukraine, Australia, Indonesia, Thailand, Malaysia, Brazil, France, Qatar and Canada are the major countries in Nepal’s import trade.

According to the centre’s data, Nepal’s total foreign trade in the last fiscal year increased by 19.2 percent to Rs 2,081.15 billion as compared to the previous year. Exports contribute 13.3 per cent of the total trade while imports contribute 86.7 per cent.

Nepal’s total exports increased by 81.8 percent to Rs 277.3 billion in the last fiscal year due to increase in export of soybean and sunflower oil. Similarly, Nepal imported goods worth Rs 1,804.12 billion in the last fiscal year.

According to the Centre, the trade deficit increased by six percent to Rs 1,527.9 billion in the last fiscal year due to an increase in both exports and imports as compared to the previous fiscal year.