Nepal experienced a trade deficit of Rs 723.58 billion during the first six months of the current fiscal year, according to a half-yearly review by the Department of Customs. During this period, the country’s total foreign trade amounted to Rs 921.16 billion.

The department reported that Nepal exported goods worth Rs 98.79 billion as of mid-January while imports reached Rs 822.37 billion during the review period.

Compared to the same period last fiscal year, imports increased by 7 percent, while exports grew by 31.78 percent. Consequently, the trade deficit widened by 4.38 percent year-on-year.

India accounted for the largest share of Nepal’s trade deficit, with imports from the country totaling Rs 502.8 billion and exports amounting to Rs 73.71 billion. This resulted in a trade deficit of Rs 429.14 billion with India in the first six months.

Similarly, Nepal’s trade deficit with China stood at Rs 158.62 billion, while the deficit with Argentina reached Rs 22.62 billion during the same period.

The department also highlighted that Nepal maintains trade deficits with 23 countries but enjoys trade surpluses with 32 countries, including Denmark, Austria, Russia, and the Maldives.