Nepal’s trade deficit increased 0.4 percent to Rs 116.15 billion in the first month of Fiscal Year 2024/25, according to the latest report of Nepal Rastra Bank. The Current Macroeconomic and Financial Situation Report published by the central bank on Thursday states that the country’s trade deficit had decreased 0.7 percent in the corresponding period of the previous year. The report added that the export-import ratio decreased to 9.5 percent in the review period from 10.5 percent in the corresponding period of the previous year. During the first month of FY 2024/25, Nepal’s merchandise exports decreased 9.6 percent to Rs 12.23 billion compared to a decrease of 8.7 percent in the same period of the previous year. Destination-wise, exports to India, China and other countries decreased 10.6 percent, 59.8 percent and 3.5 percent respectively. Exports of particle board, oil cakes, tea, woolen carpet, shoes and sandals, among others increased whereas exports of cardamom, palm oil, zinc sheet, jute goods, readymade garments, among others decreased in the review period. Likewise, merchandise imports in the first month of the current FY decreased 0.6 percent to Rs 128.38 billion compared to a decrease of 1.6 percent a year ago. Destination-wise, imports from India decreased 4.4 percent while imports from China and other countries increased 12.0 percent and 0.4 percent. Imports of chemical fertilizer, transport equipment, vehicle and other vehicle spare parts, other machinery and parts, readymade garments, edible oil, among others increased whereas imports of rice/paddy, aircraft spareparts, hot rolled sheet in coil, M.S. wire rod, bars, coils and others, M.S. billet, among others decreased in the review period. Based on customs points, exports from Birgunj, Kailali, Krishnanagar and Nepalgunj Customs Offices increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Kailali, Mechi, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period.