Exports and imports rise despite closure of northern border points
Summary
Nepal’s imports and exports rose sharply in the first three months of the current fiscal year despite flood and landslide damage that closed northern border points and disrupted transport. The trade deficit widened beyond Rs 532.49 billion as fuel, soybean oil and other raw materials dominated import bills.
Key Points
- Nepal’s imports rose 38.18 percent year-on-year to Rs 646.78 billion in the first three months of the fiscal year, while exports climbed 57.03 percent to Rs 114.28 billion.
- Floods and landslides disrupted Rasuwagadhi and Korala customs points and affected road transport, but overall trade still expanded.
- Crude soybean oil, diesel, petrol and LPG were among the biggest import items, while vegetable oil remained Nepal’s top export earner.
- India remained Nepal’s largest trading partner, with the trade deficit against India reaching Rs 271 billion.
