Nepal's Foreign Trade Reaches Record High in FY 2082/83 Amidst Widening Deficit
Summary
Nepal's foreign trade volume reached a record high in fiscal year 2082/83 with a 15.88% increase, but the trade deficit widened due to faster growth in imports compared to exports.
Key Points
- Nepal's total foreign trade volume rose by 15.88% to 24.11 trillion rupees in FY 2082/83, marking a record high.
- Imports increased by 16.20%, reaching 20.96 trillion rupees, while exports grew by 13.81% to 3.15 trillion rupees.
- The trade deficit widened by 16.63% to 17.81 trillion rupees compared to the previous fiscal year.
- The import-to-export ratio increased from 6.51 to 6.65, indicating Nepal imports goods worth nearly 6.65 rupees for every 1 rupee exported.
