Kathmandu – In the first two months of the current fiscal year 2082/83, while Nepal faced trade deficits with most countries, it still managed to record a trade surplus with a handful of nations. According to data from the Department of Customs, Nepal enjoyed positive trade balances with about a dozen countries out of 126 trading partners.

The largest surplus came from Germany. Imports from Germany amounted to Rs. 7.16 billion, while exports surged to Rs. 8.72 billion, leaving Nepal with a surplus of more than Rs. 1.56 billion. Major exports to Germany included handmade carpets, garments, handicrafts, and tea and coffee products.

Nepal also posted a notable surplus with Russia. Imports during the two-month period were just Rs. 9 million, while exports crossed Rs. 310 million, generating a surplus of over Rs. 220 million.

Despite recording massive deficits with immediate neighbors, Nepal earned a surplus of Rs. 48.1 million with Afghanistan. Similarly, the country posted surpluses of Rs. 180 million with Sweden, Rs. 37.9 million with Norway, and Rs. 11.1 million with Seychelles.

Other smaller markets such as Fiji, Lebanon, Croatia, Estonia, Georgia, Cyprus, and Uruguay also brought modest trade surpluses for Nepal. Exports to these countries were largely composed of garments, handicrafts, carpets, spices, and agricultural products.

However, the broader trade picture remains unfavorable. Huge deficits with India, China, the United States, Malaysia, Saudi Arabia, Qatar, and Thailand have overshadowed the gains made in surplus markets. In particular, Nepal’s trade deficit with India alone exceeded Rs. 135 billion, dwarfing the profits made elsewhere.

Economists stress that Nepal needs to build on these surplus markets by expanding trade relations, improving product quality, and seeking long-term market access. Without structural reforms and diversification, they warn, small surpluses from limited markets will not be enough to offset the country’s mounting trade deficit.