Merchandise trade up 72.7% in 10 months of FY 2024/25

Kathmandu, June 10: During the ten months of 2024/25, merchandise exports increased 72.7 per cent to Rs. 217.91 billion against a decrease of 3.6 per cent in the same period of the previous year, according to the Nepal Rastra Bank (NRB).     

The NRB report, 'Current Macroeconomic and Financial Situation of Nepal (Based on Ten Months Data Ending Mid-May 2024/25)', published today, states that destination-wise, exports to India, China and other countries increased 104.7 per cent, 5.1 per cent and 4.2 per cent respectively.     

Exports of soyabean oil, polyster yarn and thread, tea, jute goods, and oil cakes, among others, increased, whereas exports of palm oil, zinc sheet, readymade garments, juice, and cardamom, among others, decreased in the review period.     

During the ten months of 2024/25, merchandise imports increased 13.1 per cent to Rs.1474.19 billion against a decline of 2.4 per cent a year ago.     

Destination-wise, imports from India, China and other countries increased 7.9 per cent, 15.1 per cent and 28.3 per cent respectively. Imports of crude soyabean oil, rice/paddy, edible oil, transport equipment, vehicle and spare parts, sponge iron, among others, increased, whereas imports of petroleum products, gold, electrical equipment, chemical fertiliser, and coal, among others, decreased in the review period.     

On the export side, exports from all other major customs points have increased except for Jaleshwor, Kanchanpur, and Tatopani.     

On the import side, imports from all major customs points, including Bhairahawa, Biratnagar, Birgunj, Dry port, Jaleshwor, Kailali, Kanchanpur, Krishnanagar, Mechi, Nepalgunj, Rasuwa, and Tribhuwan Airport customs offices have increased.     

Trade deficit up 6.7 per cent     

Total trade deficit increased 6.7 per cent to Rs. 1256.28 billion during the ten months of 2024/25. Such a deficit had decreased 2.3 per cent in the corresponding period of the previous year. The export-import ratio increased to 14.8 per cent in the review period from 9.7 per cent in the corresponding period of the previous year.     

During the ten months of 2024/25, merchandise imports from India against payment in convertible foreign currency amounted to Rs 152.48 billion. Such an amount was Rs 122.02 billion in the same period of the previous year. (RSS)