Nepal records profit in foreign trade with 26 countries

August 30: Nepal’s foreign trade is in loss with majority of countries but there are a few exceptions. The data maintained by the Department of Customs shows that Nepal’s foreign trade with 26 countries was in profit during the last fiscal year.

During the review period, Nepal traded with 155 nations. Out of them, Nepal recorded loss while dealing with 129 countries.

Turkey tops the chart among the countries with whom Nepal is in profit in foreign trade. According to the data, Nepal recorded a profit of Rs 1.97 billion while trading with Turkey last year. During the period, Nepal exported goods worth Rs 4.67 billion to Turkey while its import from Turkey was Rs 2.70 billion.

Great Britain stands second in the list of Nepal’s profitable dealings. Nepal’s profit while trading with Britain was Rs 211.6 million in the last FY. Britain topped the list in the previous year. Likewise, Kuwait is third in the list with a profit of Rs 20 million.

Meanwhile, Nepal’s export to 44 countries whit which it traded last year was nil. The country only imported goods from those countries in the review period.

Nepal’s chief exports include cotton, readymade garments, handicrafts, leather products, coffee, milk products among others while its main import is petroleum products and machineries.

Nepal’s total loss in foreign trade during the review period was Rs 11.62 billion.