Nepal’s exports cross Rs 114 billion in Q1, but trade deficit widens 34.7% to Rs 532.5 billion
Summary
Nepal’s exports rose 57.03 percent to Rs 114.28 billion in the first quarter of the current fiscal year, driven mainly by soybean oil shipments. But the trade deficit widened 34.71 percent to Rs 532.49 billion as imports surged during the festive season.
Key Points
- Exports reached Rs 114.28 billion in the first quarter, one of Nepal’s highest export earnings for the period.
- Vegetable oil was the top export commodity, led by soybean oil, while India remained Nepal’s largest export destination.
- The trade deficit widened to Rs 532.49 billion as imports rose 38.18 percent to Rs 646.78 billion.
- Fuel, raw materials for vegetable oil, vehicle parts, machinery, electrical equipment and iron and steel were among the biggest import items.
