Country's imports exceed Rs 999 billion

The export has increased along with the import in the first six months of the current fiscal year in the nation. The country has imported goods and services worth Rs 999 billion 342 million 700 thousand and exported goods and services worth Rs 118 billion 850 million.

Till now Nepal has imported goods from 141 countries and the largest import is from India worth Rs 603 billion 545 million 100 thousand. Trade statistics of the first six months of the current fiscal year 2021/22 released by the Department of Customs show that the import has increased by 59.13 per cent while the export went up by 955.48 per cent during this period.

The import in the first six months of the last fiscal year, 2020/21, stood at Rs 661 billion 245 million and 300 thousand. Although the export is increasing, the import is growing exponentially as well.

Trade deficit has increased by 46.64 per cent in the first six months of the current fiscal year to reach Rs 880 billion 491 million 700 thousand. The trade deficit in the same period last fiscal year was Rs 600 billion 446 million 100 thousand.

Similarly, the country recorded foreign trade worth Rs 1 trillion 118 billion 193 million 600 thousand while it was Rs 722 billion 450 million during the corresponding period last fiscal year. The foreign trade in the first six months of the current fiscal year is 54.86 per cent more as compared to the foreign trade in the corresponding period of the last fiscal year.