Nepal Records Trade Deficit of Nearly NPR 400 Billion in First Quarter

Nepal has suffered a massive trade deficit of nearly NPR 400 billion during the first quarter of the fiscal year 2082/83. According to data published by the Department of Customs, the country imported goods worth NPR 468 billion while exports stood at just NPR 72.7 billion by the end of Ashoj. This resulted in a total foreign trade volume of NPR 540.86 billion and a trade deficit of NPR 395.30 billion.

India remains Nepal’s largest trade partner and also its biggest source of deficit. Imports from India reached NPR 258.87 billion while exports were only NPR 59.12 billion, creating a deficit of NPR 199.74 billion. Similarly, trade with China also remained highly imbalanced — Nepal imported NPR 104.89 billion worth of goods and exported only NPR 186.4 million.

However, Nepal managed to post a trade surplus with a few countries, notably Denmark, where imports were valued at NPR 40 million and exports at NPR 289.9 million — resulting in a surplus of around NPR 250 million. Petroleum products topped the import list, with petrol worth NPR 16.78 billion, diesel worth NPR 20.69 billion, and LPG gas worth NPR 13.98 billion imported during the period. Smartphone imports also remained significant, totaling NPR 13.62 billion.