Exports surge by over 72%, deficit stands at 7%

Kathmandu, May 22: Nepal has recorded a notable surge in exports, with export trade soaring by 72.71 per cent in the first 10 months of the current fiscal year 2024/25.

According to the trade statistics based on the first 10 months of the current fiscal year made public by the Department of Customs on Wednesday, the country exported goods worth Rs. 217.91 billion during the review period, a sharp increase from Rs. 126.17 billion recorded during the same period in the last fiscal year 2023/24.

Goods worth Rs. 29.72 billion have been exported from the country in a single month of Baishak (from April 14 to May 14, 2025). 

Goods worth Rs. 30 billion had been exported in each month of Chaitra and Falugn this year as well.

In the meantime, Nepal's import trade has also improved during the review period of the current fiscal year. 

The import trade surged by 13.11 per cent during the first 10 months of the current fiscal year as compared to same period last fiscal year.

The country imported goods worth Rs. 1,474.18 billion during the first 10 months of the current fiscal year. The country had imported goods worth Rs. 1,303.35 billion during the same period last fiscal year. 

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

The country has exported soybean oil worth Rs. 78.76 billion, sunflower oil worth Rs. 10.09 billion and palm oil worth Rs. 1.93 billion during the review period.

Similarly, the country exported tea and coffee worth Rs. 4.05 billion, cardamom worth Rs. 6.67 billion during the first 10 months of the current fiscal year. 

In the meantime, petroleum products worth Rs. 224.35 billion have been imported during the first 10 months of the current fiscal year.

Diesel is the most imported commodity in the first 10 months of the current fiscal year. Diesel worth Rs. 102.38 billion has been imported during the period.

Petrol worth Rs. 53.05 billion, aviation fuel worth Rs. 16.14 billion, liquefied petroleum gas worth Rs. 51.81 billion and kerosene worth Rs. 978 million were imported during the review period. 

Similarly, the country imported cereals worth Rs. 52.76 billion, including rice and paddy worth Rs. 35.53 billion and maize worth Rs. 15.93 billion.

Foreign trade, trade deficit up

Even though exports have risen significantly, the country's trade deficit has increased due to the higher volume of imports than exports.

According to the statistics, the trade deficit increased by 6.72 per cent to Rs. 1,256.27 billion during the review period. 

The country had faced a trade deficit of Rs. 1,177.18 billion during the first 10 months of the last fiscal year. 

Similarly, the country’s foreign trade volume has reached Rs. 1,692.09 billion during the review period which is 18.37 per cent more than the previous year. 

Even though exports went up significantly, the ratio of export to import is still 1:6.77. 

The ratio of export to import has decreased by 34.51 per cent during the review period as compared to the same period last fiscal year.

The share of export in the total foreign trade is only 12.88 per cent while that of import is at a whopping 87.12 per cent. 

During the review period, the share of export in total foreign trade increased by 45.91 per cent and the share of import in total foreign trade decreased by 4.44 per cent.