Export trade improves since mid-October

By A Staff Reporter,Kathmandu, Nov. 25: Nepal's export trade, which had been declining continuously for the first three months of the current fiscal year, has witnessed improvement in the fourth month of the current fiscal year.

According to the foreign trade statistics published by the Department of Customs, Nepal's export trade has increased by 4.16 per cent to Rs. 52.67 billion during the first four months (mid-July to mid-November 2024) of the current fiscal year 2024/25.

Goods worth Rs. 50.56 billion had been exported during the first four months of the last fiscal year.

The export trade had declined by 9.63 per cent during the first month (mid-July to mid-August 2024), 5.12 per cent during the second month (mid-August to mid-September 2024) and 6.11 per cent during the third month (mid-September to mid-October 2024) of the current fiscal year as compared to same months in the past year.

Even though exports went up significantly, the ratio of export to import is still 1:9.75. The ratio of export to import was 1:10.14 in the same period last fiscal year.

The share of export in the total foreign trade is only 9.30 per cent while that of import is at a whopping 90.70 per cent. 

The increment in the export of soybean oil, sunflower and tea and coffee has contributed to increase export trade during the review period.

The country has exported soybean oil worth Rs. 3.41 billion during the first four months of the current fiscal year while it exported worth Rs. 144 million during the same period last fiscal year.

Similarly, palm oil worth Rs. 525 million, sunflower worth Rs. 1.50 billion, carpet worth Rs. 3.9 billion, tea and coffee worth Rs. 2.32 billion and cardamom worth Rs. 1.90 billion have been exported during the first four months of the current fiscal year.

The country had exported palm oil worth Rs. 1.88 billion, sunflower worth Rs. 114 million, carpet worth Rs. 3.94 billion, tea and coffee worth Rs. 1.49 billion and cardamom worth Rs. 2.15 billon during the first four months of the last fiscal year.

Trade deficit drops Meanwhile, import trade increased marginally by 0.17 per cent to Rs. 513.38 billion during the review period of the current fiscal year.

In the same period of the last fiscal year, the country had imported goods worth Rs. 512.50 billion.

During the review period, the trade deficit has decreased by 0.26 per cent to Rs. 460.71 billion.

The country’s foreign trade volume has reached Rs. 566.05 billion during the review period which is 0.53 per cent more than the previous year. 

According to the Department of Customs, Nepal has imported petroleum products worth Rs. 76.28 billion during the first four months of the current fiscal year.

Diesel is the most imported commodity in the first four months of the current fiscal year. Diesel worth Rs. 29.04 billion has been imported during the period.

Meanwhile, petrol worth Rs. 21.56 billion, liquefied petroleum gas (LPG) worth Rs. 18.85 billion, aviation fuel worth Rs. 6.55 billion, kerosene Rs. 325 million have been imported.

The country imported crude soybean oil worth Rs. 7.24 billion, crude palm oil worth Rs. 3.61 billion and crude sunflower oil worth Rs. 9.60 billion during the review period. 

Similarly, electric vehicles worth Rs. 8.73 billion and cereals worth Rs. 10.58 billion have been imported during the first four months of the current fiscal year.