Country's Imports Exceed Rs 999 Billion in First 6 Months of Current FY   

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Country's Imports Exceed Rs 999 Billion in First 6 Months of Current FY   

January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year. The country imported goods and services worth Rs 999.34 billion and exported goods and services worth Rs 118.85 billion in the review period.    

Nepal imported goods from 141 countries and the largest import was from India. Imports from India were worth Rs 603.54 billion during this period.    

Trade statistics of the first six months of the current fiscal year (FY 2021/22) released by the Department of Customs shows that the import increased by 59.13 percent while the export went up by 955.48 percent during this period.    

The import in the first six months of the last fiscal year (FY 2020/21) stood at Rs 661.24 billion. Although the export is increasing, the import is growing exponentially thereby leading to a heightening trade deficit.    

Trade deficit increased by 46.64 percent in the first six months of the current fiscal year to reach Rs 880.49 billion. The trade deficit in the same period of last fiscal year was Rs 600.44 billion.    

Similarly, the country’s overall foreign trade was worth Rs 1.11 trillion in the first six months of the current fiscal year while it was Rs 722.45 billion during the corresponding period of last fiscal year. The foreign trade in the first six months of the current fiscal year is 54.86 percent more as compared to the foreign trade in the corresponding period of the last fiscal year. -- RSS  

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