Nepal’s Exports Surge by 73%, Yet Trade Deficit Hits NPR 1.25 Trillion

Nepal’s export trade has surged by 73% in the first ten months of the current fiscal year (Shrawan to Baisakh), according to data published by the Department of Customs. During this period, Nepal exported goods worth NPR 217.91 billion, a significant rise from NPR 126.17 billion in the same period of the previous fiscal year.

The major contributor to this increase has been the rise in soybean oil exports following a reduction in customs duties by India. However, despite the notable growth in exports, the trade deficit has widened further.

Nepal’s trade deficit reached NPR 1.256 trillion during the same 10-month period, an increase of nearly 7% compared to the NPR 1.177 trillion recorded during the same period last year. Total imports amounted to NPR 1.474 trillion, up by 13.11% from NPR 1.303 trillion last year.

This growing trade imbalance highlights ongoing challenges in narrowing the gap between exports and imports, despite recent improvements in outbound trade figures.