Kathmandu, Jan 21: Exports have increased in the first six months of the current fiscal year 2020/21 as imports of goods declined.

As per the details of the first six months released by the Department of Customs, exports have increased by six per cent as imports have declined by five per cent.

According to the details, goods worth Rs 661.24 billion were imported in six months which was less by 4.81 per cent as compared to the corresponding period of the previous fiscal year.
Goods worth Rs 694.69 billion were exported during the corresponding period of the previous fiscal year.

Similarly, goods worth around Rs 60.80 billion were exported in six months which was an increase of 6.14 per cent as compared to the corresponding period of the previous fiscal year.

The trade deficit was improved by 5.80 per cent this year, according to the details. The share of import in foreign trade is 91.58 per cent and export is 8.42 per cent. Out of Rs 722.44 billion foreign trade in six months, Nepal has witnessed Rs 6.46 billion losses, which is less by 5.80 per cent as compared to the correspondent period of the previous fiscal year.

Goods worth Rs 136 billion were imported in the Nepali month of Poush alone during the fiscal year. So far, the Department has collected Rs 187 billion in revenue. It targets to collect Rs 440 billion in revenue this FY.

According to data with the Department of Customs, in the first month of the current FY (Shrawan), goods worth Rs 85.8 billion, Rs 93.04 billion in Bhadra, Rs 113.04 in Ashoj, Rs 110.02 billion in Kartik, Rs 123 billion in Mangsir and Rs 135.07 billion in Poush were imported. Diesel worth Rs 32.9 billion was imported in the six months during the current FY.