Nepal's Foreign Trade Hits Record High, Trade Deficit Widens

Kathmandu. Nepal's foreign trade volume has set a new record for the first time in history. According to the annual statistics for the last fiscal year 2082/83, released by the Department of Customs on Thursday, Nepal's total foreign trade volume, including imports and exports with various countries around the world, has crossed the mark of 24 trillion rupees. While the total trade volume has reached an all-time high, the gap between imports and exports is widening further. This data indicates that Nepal's economy is heading towards extreme dependence, reflecting the structure of Nepal's economy, the state of production, and consumption patterns. According to the Department of Customs data, Nepal's total foreign trade volume increased by 15.88 percent to 24 trillion 11 billion 66 million 954,500 rupees in the last fiscal year 2082/83. In 2081/82, Nepal's total foreign trade was 20 trillion 81 billion 15 million 293,300 rupees. In a single year, the volume of foreign trade has increased by more than three and a half trillion rupees.

Export Improvement, But Negligible Compared to Imports