February 22, 2024, Thursday
Nepal 1:37:26 pm

Imports start increasing

The Nepal Weekly
June 27, 2023

According to the statistics released by the Customs Department up to the 11th month of the current year (May-June), Nepal has imported goods worth 14 trillion 80 billion 98 million rupees during that period. In May-June(Jestha) alone, Nepal has imported goods worth one trillion 45 billion rupees. Which is the highest monthly import of the current year. With the increase in imports, the revenue based on customs has also started to gradually improve. Till May-June, the government has collected three trillion 44 billion rupees in customs revenue from imports. Till the same period last year, four trillion 46 billion rupees of customs revenue was collected.

As both imports and exports have decreased, the country’s trade deficit has also decreased. By May-June, Nepal’s trade deficit has decreased by 15.21 percent and reached 13 trillion 37 billion. Nepal has spent the most on diesel imports till May. According to the department, one trillion 37 billion 600 million rupees have been released for diesel till the review period. After that, 61 billion 38 million rupees have been spent on petrol imports. While 54 billion 32 million rupees were spent on LP gas, 39 billion 81 million rupees were spent on iron products. Crude palm oil brought and processed in Nepal has been imported worth 21 billion 64 million rupees.

During this period, about 19.5 billion worth of palm oil has been exported. After that, soybean oil worth 8. 47 billion rupees, cardamom worth Rs. 7.68 billion, carpets worth Rs. 6.41 billion, mixed juice worth Rs. 4.37 billion were imported, according to the statistics published by the department.

Till the review period, Nepal has imported the highest amount of goods worth 9 trillion 37 billion 83 million rupees from India and has exported goods worth 98 billion 97 million rupees. After that, while importing goods worth two billion rupees from China, it exported only one billion and 52 million rupees. While importing goods worth 17 billion 91 million rupees from America, it exported goods worth 17billion 33 million rupees.