•      Tue Jul 23 2024

Rs 1,314 billion trade loss in 11 months

Electric cars imported from China plying at the Rasuwagadhi dry port, Rasuwa. (Photo: newspolar.com)

Kathmandu, June 21: The country has suffered the trade loss of Rs 1,314 billion in the last 11 months of the current fiscal year.

The data on foreign trade released by the Customs Department on Friday showed that the country was able to make exports of only Rs 139 billion in the same period, while its import amounted to Rs 1,453 billion.

In total, Nepal had the foreign trade of Rs 1,591 billion in the last 11 months. It is down by 1.95 percent as compared to the same period last year.

Similarly, in the current fiscal year, the foreign trade saw 1.72 percent decline, while import shrank by 1.84 percent and export by 3.1 percent.

With India alone, Nepal incurred the trade loss of over Rs 813 billion. The import from India amounted to Rs 908 billion, while export was of Rs 94.51 billion.

Similarly, in the last 11 months of current fiscal year, Nepal saw the trade loss of Rs 270 billion. Nepal’s import from China amounted to Rs 272 billion.

However, there were benefits for Nepal in the trades with Afghanistan, Norway, Sudan, Iceland and Mauritius.

Discover more from Enewspolar

Subscribe now to keep reading and get access to the full archive.

Continue reading