Nepal’s foreign trade deficit widened sharply to Rs 649.68 billion in the first five months of the current fiscal year (mid-July to mid-December), according to data released by the Department of Customs.
During the review period, the country’s total foreign trade stood at Rs 882.69 billion. Imports reached Rs 766.18 billion, while exports were limited to Rs 116.50 billion. Compared to the same period last fiscal year, imports grew by 15.83 percent, whereas exports surged by 58.17 percent.
India remained Nepal’s largest trading partner, with the country recording a trade deficit of Rs 339.02 billion. Imports from India amounted to Rs 434.06 billion, against exports worth Rs 95.04 billion. Trade with China also remained heavily skewed, as imports totaled Rs 163.73 billion, while exports stood at just Rs 466.8 million.
Nepal, however, posted trade surpluses with a few countries, including Romania, which led with a surplus of Rs 63.4 million, followed by Sweden and Iraq.
Petroleum products dominated the import basket. Nepal imported diesel worth Rs 45.6 billion, petrol worth Rs 27.33 billion and cooking gas valued at Rs 22.39 billion. Other major imports included crude soybean oil worth Rs 46.97 billion, smartphones valued at Rs 19.13 billion, and iron and steel products worth Rs 21.84 billion.
Soybean oil emerged as the single largest import item at Rs 46.55 billion during the period. Meanwhile, key export items included large cardamom worth Rs 5.53 billion and carpets valued at Rs 4.13 billion.