Two months after the government lifted the import restrictions, the country's imports have again started to surge. The latest foreign trade statistics released by the Department of Customs show Nepal imported goods worth Rs 139.22 billion in Falgun (mid-February to mid-March), an increase of 10 percent compared to Magh (mid-January to mid-February). The country's import bill in Falgun is the second highest on a month-to-month basis in FY 2022/23. Nepal had imported goods worth Rs 142.31 billion in Bhadra (mid-August-mid-September). However, the country's total imports in the first eight months of the current fiscal year are lower than the last fiscal year. According to the Department of Customs, Nepal imported goods worth Rs 1,058.38 billion in the current fiscal year compared to Rs 1,308.73 billion during the same period of the last fiscal year. The imports during the first eight months of this fiscal have declined by 19.13 percent.

After lifting eight months-long import restrictions on automobiles, alcohol, and high-end mobiles in mid-December last year, Nepal Rastra Bank (NRB) also removed the provision of cash margin in imports in January this year.

The country's overall imports were on the lower side from the start of the current fiscal year compared to the last fiscal year. The country's import bill in Shrawan (mid-July to mid-August) stood at Rs 131.30 billion. It increased to Rs 142.30 billion in Bhadra (mid-August to mid-September) before going down to Rs 127.40 billion in Ashoj (mid-September to mid-October). The imports increased to Rs 131.70 billion in Kartik (mid-October to mid-November) and Rs 132.10 billion in Mangsir (mid-November to mid-December) before declining to Rs 127.90 billion in Poush (mid-December to mid-January). While the imports have started to surge, the country's exports are yet to grow like in the last fiscal year. Nepal's exports reached an all-time high of Rs 200 billion in FY 2021/22. According to DoC, the country's exports crossed the Rs 100 billion mark in the eighth month of the current fiscal year. The department’s data shows Nepal exported goods worth Rs 104.79 billion till Falgun compared to Rs 147.74 billion during the same period of the last fiscal year.

Monthly Import Bill                  (in Rs, in bn) Shrawan 131.286 Bhadra             142.313 Ashoj 127.399 Kartik 131.693 Mangsir 132.055 Poush 127.92 Magh 126.499 Falgun             139.22