Nepal's trade deficit with Bhutan hits over Rs 126 billion in five years

Jhapa, May 19: Nepal is running over Rs 126 billion worth of trade deficit with Bhutan in the past five years. Exports and imports with Bhutan and Bangladesh are taking place through Kakadbhitta transit in the eastern border of the country. 

According to Purna Prasad Lamsal, the information officer for the Mechi Customs Office, Kakadbhitta, Nepal imported goods worth over Rs 177 billion from Bhutan through the transit in the past five years beginning the fiscal year, 2018/19 until 14 May, 2023 of the current FY, 2022/23. The exports to Bhutan during the same period amounted to more than Rs 50.7 billion. 

Trade deficit in the FY, 2018/19 amounted to over Rs 1.4 billion. Similarly, the FY, 2019/20 saw trade deficit worth more than Rs 993 million, over Rs 614 million worth in the FY 2020/21, more than Rs 908 million in the FY 2021/22, and over Rs 794 worth until 14 May, 2023 of the FY 2022/23. Nepal has been importing cement raw materials including gypsum from Bhutan, and exporting iron and iron-made products to the country. 

Nepal imported over Rs 1.3 billion worth of gypsum from Bhutan in 10 months of the current FY, and exported iron and iron-made products worth more than Rs 3.7 billion.(RSS)