Nepal Breaking NewsBusinessNepal's Foreign Trade: Rs 1205 billion in imports, Rs 108 billion in...

Nepal’s Foreign Trade: Rs 1205 billion in imports, Rs 108 billion in exports

Must Read
spot_img

KATHMANDU: The prohibitory orders have brought most of the country to a halt. Since April 30, the country has been under a prohibition. Even during this year’s prohibition, imports and exports were not greatly impacted.

The Customs Department reports items worth Rs 1205.4 billion were imported in the first ten months of the current fiscal year.

This is a 22.34 percent increase over the same period previous year. During this time, goods worth Rs. 108.48 billion were shipped. This represents a 32.19 percent rise over the same period previous year.

The ten most imported items

In the first 10 months of the current fiscal year, the Government imported fuel worth Rs.70.56 billion. In the same period the previous year, it was valued Rs. 75.79 billion.

Similarly, M. S. Willett imports of Rs. 57.54 billion, soybean crude oil imports worth Rs. 39.46 billion, mobile and telephone imports around Rs. 30.09 billion, and LP gas imports around Rs. 29.51 billion were purchased in the recent ten months.

Similarly, fuel was imported at a cost of Rs 26.88 billion, readymade garments at a cost of Rs 26.12 billion, rice at a cost of Rs 23.39 billion, coal at a cost of Rs 22.39 billion, and polythene grains at a cost of Rs 21.76 billion.

The Import has doubled

Even amid the global pandemic, imports of MS Willet, soybean oil, and mobile phone sets have more than increased.

Imports of mobile phone sets expected to have more than doubled in the last ten months, after educational institutions began offering classes.

In the first ten months of the current fiscal year, mobile worth Rs 32 billion were imported. In the same period last year, mobile phones worth Rs 14.68 billion were imported.

In the first ten months of the previous fiscal year, soybean crude oil imports were Rs 14.2 billion, compared to Rs 39.46 billion in the same period of the current fiscal year.

MS Wallet imports climbed from Rs 35.42 billion in the first ten months of the previous fiscal year to Rs 57.48 billion in the same period of the current fiscal year.

Soybean oil is among the biggest exports.

According to the department’s data, refined soybean oil ranks first on the export list.

215.1 million kg of refined soybean oil worth Rs 35.75 billion was exported in the first ten months of the current fiscal year. In the previous fiscal year’s same period, 63.4 million kg of refined oil worth Rs. 8.36 billion was exported.

Cardamom is also in high demand on the global market.

7.5 million kg of cardamom worth Rs. 5.99 billion was shipped in the first ten months of the current fiscal year. In the same period the previous year, 4.1 million kg of cardamom worth Rs. 3.34 billion was shipped.

In addition, synthetic yarn valued at Rs 6.36 billion, carpet valued at Rs 5.58 billion, readymade garments valued at Rs 4.39 billion, jute cloth valued at Rs 3.53 billion, and tea valued at Rs 3.35 billion were exported.

Similarly, Rs 3.35 billion in fruit juice, Rs 3.34 billion in cotton cloth, and Rs 2.74 billion in other textiles (wool, cotton) have been shipped.

You May Also Like:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Is Pi Coin / Pi Network the next huge thing in Crypto World?

Money has evolved and changed shape over time. Today, digital currencies best suited to the needs of the...

More Articles Like This