Nepal’s trade deficit hits Rs 302.28 billion, a 9.45 percent down in two months

Kathmandu / Sept. 25: Nepal’s trade deficit lessened by 9.45 percent to Rs 302.28 billion as of the first two months of the current fiscal year.

The records with the Department of Customs (DoC) show that the export earnings dipped 34.88 percent. The exports figure declined from Rs 44.03 billion to Rs 28.68 billion.

Likewise, the country’s import expense also fell by 13.01 percent. Nepal imported goods worth Rs 273.59 billion during mid-July and mid-September, down from Rs 314.51 billion in the same period last year.

During the review period, Nepal imported petroleum products worth over Rs 40.50 billion, the largest of all. Nepal imported diesel of Rs 18.42 billion, petrol worth Rs 12.18 billion and cooking gas of Rs 10 billion.

Similarly, imports of iron products were recorded at Rs 13.45 billion. Soybean oil of Rs 6.44 billion and palm oil of Rs 6.32 billion, were among the notable imports during the period.