The countryR17;s trade deficit has surpassed Rs. 1.26 trillion in the last 11 months of the current fiscal year 2077-78. The customs department released import and export data from the current fiscal year’s mid-July to mid-June on Wednesday.
Nepal’s total trade deficit reached Rs 1.262 trillion by mid-June of this fiscal year, according to the Customs Department. This represents a 24.61 percent increase over the same period last year. The total trade deficit was Rs 1.012 trillion as of mid-June last year.
In the last 11 months of the current fiscal year, Nepal imported goods worth Rs. 1,383.36 billion. Nepal exported goods worth Rs. 121.25 billion during the same period. According to the department, exports increased by 37.78 percent while imports increased by 25.67 percent during the same time period. Such exports and imports totaled only Rs. 88.31 billion and Rs. 1,181.34 billion last year, respectively.
Nepal’s total foreign trade during this time was Rs. 1.546 trillion. In comparison to the previous year, such foreign trade has increased by 26.56 percent. The total foreign trade during the same period last year was Rs. 1.188 trillion.