In the first eleven months of the current fiscal year 2024/25, Nepal’s total deficit has reached Rs 1397.23 billion, with a 6.3 per cent rise. According to Nepal Rastra Bank report on macroeconomic and financial situation during the review period, merchandise imports increased by 13.1 percent to reach Rs1644.80 billion. The report highlighted key trends in the Nepali economy, indicates a mixed bag of improvements and challenges. While inflation has decreased, the balance of payments remains in deficit.
Imports from India, China, and other countries increased by 7.6 percent, 15.3 percent, and 29.5 percent, respectively. Imports of crude soyabean oil, rice/paddy, transport equipment, vehicle and spare parts, edible oil, and sponge iron among others increased whereas imports of petroleum products, gold, electrical equipment, chemical fertilizer, and coal among others decreased in the review period. During the review period, merchandise imports from India amounted NPR 167.30 billion. Such amount was Rs.137.13 billion in the same period of the previous year. Similarly, merchandise exports increased by 77.8 percent to reach Rs 247.57 billion.
Exports from Bhairahawa, Biratnagar, Birgunj, Dry Port, Kailali, Krishnanagar, Mechi, Nepalgunj, Rasuwa and Tribhuwan Airport Customs offices increased. Exports to India, China, and other countries increased 112.6 percent, 3.0 percent, and 4.4 percent respectively. Exports of soyabean oil, polyster yarn and thread, jute goods, tea, and rosin among others increased whereas exports of palm oil, zinc sheet, juice, readymade garments, and cardamom among others decreased in the review period.
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