Nepal trade deficit widens as imports and exports rise

Nepal experienced a significant rise in both imports and exports during the first month of the current fiscal year (Shrawan). According to Department of Customs data, exports rose by 61.72 percent to Rs 38.70 billion, while imports increased by 31.04 percent to Rs 187.43 billion. This surge in imports caused the trade deficit to widen by 24.88 percent, reaching Rs 148.73 billion.

Electric vehicle imports also saw notable activity, with nearly Rs 1.75 billion worth of electric vehicles and three-wheelers brought into the country. China was a major supplier of unassembled electric three-wheelers, while India also contributed to the supply of electric vehicles.

In a separate report regarding agricultural trade, the Plant Quarantine Office in Kakarbhitta noted that agricultural products worth over Rs 24 billion were imported through the eastern border during the last fiscal year. These imports, sourced from India, China, Australia, and Bangladesh, primarily consisted of food grains, pulses, fresh vegetables, and fruits. Key items included rice, millet, chickpeas, and various fruits such as apples and watermelons.