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Foreign trade increases in three months of current Fiscal year


Nepalnews
2021 Oct 27, 16:39, Kathmandu

In the first three months of the current fiscal year, the country's foreign trade has increased by 68.13 per cent. In the first quarter of the last fiscal year, it was Rs. 323.31 billion.

According to the data released by the Customs Department for the first quarter of the current fiscal year on Tuesday, imports increased by 63.73 per cent to Rs. 478.52 billion in the corresponding period of the previous fiscal year. In the first three months of the last fiscal year, the import was Rs. 292.26 billion. 

 Exports have increased by 109.54 per cent in the first three months of the current fiscal year compared to the last year. In the first quarter of the last fiscal year, the export was Rs. 31.46 billion and now Rs. 65.52 billion export has been reported in the current fiscal year.

The country's trade has increased by 58.28 per cent to Rs. 413.47 billion in the first quarter of the current fiscal year. The trade deficit in the first three months of the last fiscal year was Rs. 261.22 billion. Of the total foreign trade in the first three months of the current fiscal year, imports accounted for 7.36 times more than exports.

 Diesel imports 

According to the statistics of the department, diesel worth up to Rs. 23.32 billion has been imported in the last three months. Similarly, soybean oil is second in imports. Entrepreneurs have been importing, processing, and re-exporting soybean oil from different countries. In the first three months of the current fiscal year, about 130 million liters of soybean oil worth Rs. 20.60 billion was exported as per the reports.

Similarly, in the first three months of the current fiscal year,  around Rs 17.17 billion worth of mobiles were imported, palm oil at Rs. 13.43 billion and petrol at Rs. 12.86 billion.

 Soybean oil exports 

According to the statistics of the department, soybean oil worth up to Rs 22 billion has been exported.

Entrepreneurs have been importing and processing soybean raw material from different countries and exporting it to India. The second most exported commodity is crude palm oil and the third is refined palm oil. According to the public data, crude palm oil worth Rs 8.45 billion and refined palm oil worth Rs 5.58 billion were exported in the first three months of the current fiscal year.

Similarly, in the last three months of the current fiscal year, woolen carpets worth Rs. 2.24 billion and other garments worth Rs. 1.87 billion were exported.

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Customs Department foreign trade current fiscal year exported Diesel imports soybean oil Entrepreneurs palm oil
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