Nepal trade deficit widens 34.71 percent in first three months

Nepal recorded a significant increase in its foreign trade deficit during the initial three months of the current fiscal year 2083/84. Data published by the Department of Customs indicates that the deficit expanded by 34.71 percent to reach Rs 532.49 billion. During the corresponding period of the previous fiscal year, the deficit stood at Rs 395.30 billion. Overall foreign trade activities saw a sharp rise between mid-July and mid-October. Total foreign trade expanded by 40.71 percent, reaching a value of Rs 761.07 billion. Both inbound and outbound shipments contributed to this overall expansion across the review period. Total imports grew by 38.18 percent during the quarter, totaling Rs 646.78 billion. Among imported goods, diesel emerged at the top of the list with purchases valued at Rs 47.31 billion. Other major imports included petrol and cooking gas. On the export side, outbound shipments witnessed stronger percentage growth, surging by 57.03 percent to reach Rs 114.28 billion. Soybean oil led the export commodities with a total value of Rs 52.60 billion, destined primarily for neighboring markets.