Nepal’s goods export increases by 57.2% in first eight months of current FY

April 9, Kathmandu: Nepal’s total goods export soared by 57.2% in the first eight months of the current fiscal year, according to an economic report released by Nepal Rastra Bank today.

The report revealed that exports had reached 158.17 billion rupees during this period, a sharp contrast to the 4.0% decline recorded in the same timeframe the previous year.

By destination, exports to India, China, and other countries had risen by 82.5%, 8.8%, and 2.9%, respectively.

On a commodity basis, exports of soybean oil, polyester yarn, tea, particle board, and cardamom had increased, while palm oil, zinc sheets, ginger, ready-made garments, and juice had seen a decline.

Meanwhile, goods imports had grown by 11.2% to 1,145.57 billion rupees, compared to a 2.7% drop in the prior year’s corresponding period. Consequently, Nepal’s total trade deficit had widened by 6.2%, reaching 987.39 billion rupees over the eight months.