Nepal imported goods from 164 countries during the fiscal year 2021-22.

According to statistics unveiled by the Department of Customs today, Nepal imported goods worth over Rs 1,920 billion from those countries last fiscal year. The statistics show that Nepal purchased goods worth over Rs 1,200 billion from India alone while the export was worth Rs 155 billion.    

It means the country's trade deficit with India alone was over 1,044 billion in the last fiscal year.

After India, China is the second largest supplier to Nepal. Nepal imported goods worth over Rs 264 billion and the export goods worth Rs 887 million, resulting in a trade deficit of worth around Rs 264 billion.   

Trade deficit goes up

The country's trade deficit is increasing year by year. The figure of trade deficit increased by 23 percent in the last year compared to the previous fiscal year.

According to the Department, the trade deficit had reached over Rs 1,720 billion in the last fiscal year and it was over Rs 1,398 billion in the previous year.

In one year, Nepal saw foreign trade of worth over Rs 2,120 billion and this was more by 26.15 percent than of the previous year. In the fiscal year 2020-21, the country's foreign trade transactions were worth around Rs 1,681 billion.