In the month of Chaitra, Nepal witnessed a decline in both imports and exports, according to data published by the Customs Department.
Nepal imported goods and merchandise worth Rs 1167 billion during this period, marking a decrease of 2.84 percent compared to the Rs 1201 billion recorded in the same period of the previous fiscal year.
Similarly, the country’s exports amounted to Rs 113 billion, indicating a decline of 3.66 percent compared to the Rs 118 billion reported during the corresponding period of the last fiscal year.
Despite the downturn in imports and exports, there is a silver lining as the trade deficit of the country has slightly improved. The trade deficit decreased to Rs 1053 billion from Rs 1083 billion in the review period of the previous fiscal year, representing a decline of 2.7 percent.
The slight improvement in the trade deficit offers a glimmer of hope amidst the challenging economic scenario. However, concerted efforts may be required to further strengthen Nepal’s trade position and promote sustainable economic growth.
