Kathmandu, April 22
As of mid-April 2022, the country’s trade deficit has crossed Rs 1.3 trillion, according to government statistics.
The Department of Customs says the amount of import, which had come down during the Covid pandemic, got back to normality, increasing the trade deficit.
The government has currently imposed a ban on the import of luxury products to save the foreign reserves, but it has not been able to control the deficit.
Of late, the amount of export has also seen an unprecedented rise. Yet, the amount remains too low in comparison to the import.
As the first nine months of the current fiscal year are over, the trade deficit stands at Rs 1.306 trillion, which is 34.91 per cent more than the figure recorded exactly one year ago, the department informs.
Here are highlights of the foreign trade in the past nine months from mid-July 2021:
- Import: Rs 1.466 trillion (31.97% more than last year’s figure)
- Export: Rs 160.57 billion (69.44% more than last year’s figure)
- Trade deficit: Rs 1.306 trillion (34.91% more than last year’s figure)
- Total foreign trade amount: Rs 1.627 trillion (34.91% more than last year’s figure)
- Share of import in the foreign trade: 90.13%
- Share of export in the foreign trade: 9.17%
