March 5: Imports of smart watches has declined in Nepal of late. According to the Department of Customs, smart watches worth Rs 200.6 million have been imported into Nepal in the first seven months of the current fiscal year. According to the department, 163,873 units of smart watches were imported during the review period.

In the corresponding period of last fiscal year, 194,313 smart watches worth Rs 289. 9 million were imported into Nepal. Compared to the first seven months of last year, import of smart watches decreased by 15 percent in terms of volume and 30 percent in terms of value during the same period of this year.

Smart watches are being imported from different countries in Nepal. In the review period, Nepal imported smart watches from Canada, China, Hong Kong, India, Japan, Jordan, South Korea, Lebanon, Malaysia, the Netherlands, the Philippines, Portugal, Qatar, Saudi Arabia, Singapore, Spain, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America, Uzbekistan, Vietnam and other countries, according to the data of the department.

The maximum quantity of smart watches were imported from China during this period. According to the Department of Customs, Nepal imported 155,362 smart watches worth Rs 174.8 million from China alone. Similarly, the data of the department shows that 7,791 smart watches worth Rs 13.5 million were imported from India.