Kathmandu. In the last fiscal year, Nepal has done a total foreign trade of Rs 1.292 trillion. In the Fiscal Year 2075/76, the foreign trade was Rs. 1.515 trillion. Trade declined by 14.69 percent last year.

Foreign trade declined last year as both imports and exports declined. The trade deficit has also declined as imports and exports have declined. The trade deficit has decreased by about 17 percent in the last fiscal year. In the last fiscal year, Nepal has a foreign trade deficit of Rs. 1.1 trillion. In the previous fiscal year, the foreign trade deficit was Rs. 13.21 billion.

Imports decreased by 15.63 percent in the last fiscal year compared to the previous fiscal year. Imports, which have been declining since the beginning of last fiscal year, have been further reduced by the lockdown with the corona virus. A total of Rs. 1196.79 billion worth of goods were imported in the last fiscal year. A total of Rs 1.418 trillion worth of goods were imported in the previous fiscal year, according to the Customs Department.

Exports, like imports, have shrunk somewhat due to the lockdown caused by Kovid. Before the lockdown, imports were declining while exports were increasing. However, after the shutdown, export trade has also declined. Export trade has also slowed down in the last fiscal year. Goods and services worth Rs 97.10 billion were exported in the current fiscal year. Goods and services worth Rs 96.15 billion were exported in the last fiscal year.

By the end of the Fiscal Year, imports accounted for 92.56 percent of total foreign trade and exports for 7.44 percent. By the end of the previous fiscal year, the share of imports was 93.59 percent and that of exports was 6.41 percent.