According to the Department of Customs, Nepal has suffered a trade deficit of Rs 568 billion in the first four months of this fiscal year (mid-July to mid-November).
The country bought commodities worth Rs 650.29 billion during this period, but only exported items worth Rs 82.124 billion, resulting in a Rs 568 billion loss, according to the departmentR17;s latest datasheet released on Wednesday.
In comparison, the amount of trade deficit the country had in the same period last year was only Rs 362.29 billion. This is a 56.83 percent increase over the previous yearR17;s record of Rs 362.29 billion.
Within the last four months, the following items were imported into the country at the highest rate:
Rs 88.24 billion was spent on fossil fuels and bitumen.
Rs 55.62 billion was spent on iron and steel.
Rs 44.59 billion was spent on automobiles.
Rs 56.24 billion was spent on vegetable ghee and oil.
Electric appliances: Rs 46.91 billion (approximately).
Vegetables: Rs 16.09 billion (approximately).
Rs 3.81 billion was spent on tea and coffee.
Nepal has also exported vegetable ghee and oil, vegetables, as well as tea and coffee, however the amounts exported have been far fewer than the amounts imported.