Export trade up in half year of current FY

By A Staff Reporter,Kathmandu, Jan. 22: The export trade of Nepal witnessed significant growth in the first six months of the current fiscal year 2024/25. 

According to the trade statistics made public by the Department of Customs on Monday, goods worth Rs. 98.78 billion were exported during the first six months (from mid-July 2024 to mid-January 2025) of the current fiscal year. 

This is 31.78 per cent higher as compared to the exports of the corresponding period last fiscal year. 

Goods worth Rs. 74.96 billion were exported during the first six months of the last fiscal year 2023/24.

Along with exports, imports have also increased by 7.06 per cent to Rs. 822.37 billion during the review period. 

In the same period of the last fiscal year, the country imported goods worth Rs. 768.166 billion.

According to the statistics, the trade deficit increased by 4.38 per cent to Rs. 723.58 billion during the review period. 

The country had faced a trade deficit of Rs. 693.19 billion during the first six months of the last fiscal year. 

Similarly, the country’s foreign trade volume has reached Rs. 921.15 billion during the review period which is 9.25 per cent more than the previous year. 

Due to significant growth in export, the ratio of export to import has decreased by 18.76 per cent during the review period. The ratio of export to import is still 1:8.32. The ratio of export to import was 1:10.25 in the same period last fiscal year.

The share of export in the total foreign trade is only 10.72 per cent while that of import is at 89.28 per cent. 

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

The country has exported soybean oil worth Rs. 18.91 billion during the first six months of the current fiscal year while it had exported soybean oil worth Rs. 4.15 billion during the same period last fiscal year.

The country exported soybean oil worth Rs. 10.50 billion in a single month from mid-December 2024 to mid-January 2025 of the current fiscal year.

It exported soybean oil worth Rs. 8.37 billion by mid-December 2024 of the current fiscal year.

Similarly, sunflower oil worth Rs. 4.98 billion, carpets worth Rs. 6.09 billion, tea and coffee worth Rs. 3.20 billion and cardamom worth Rs. 4.56 billion have been exported during the first six months of the current fiscal year.

During the review period, the export of palm oil decreased to Rs. 1.13 million. The country exported palm oil worth Rs. 2.907 billion during the first six months of the last fiscal year.

Similarly, petroleum products worth Rs. 126.30 billion have been imported during the first six months of the current fiscal year.

Diesel is the most imported commodity in the first six months of the current fiscal year. Diesel worth Rs. 54.36 billion has been imported during the period.