KATHMANDU: For the years 2023–2024, Nepal's international market turnover was Rs 1,745 billion, resulting in a trade deficit of Rs 1,440 billion. This year, imports and exports decreased compared to last. In value terms, exports stood at Rs 152 billion, down 3.03 percent, while imports were at Rs 592 billion, down 1.16%. Compared to the fiscal year of 2022–23, foreign trade decreased by 1.33 percent, while the trade deficit shrank by 0.96 percent.
Despite a trade gap of Rs. 893.17 billion, India continued to be Nepal's most important trading partner. Nepal exported commodities worth Rs 103.17 billion and received goods worth Rs 996.68 billion from India. China, the second-largest trading partner, ranked second with a trade imbalance of Rs 296.18 billion. China accounted for 298.77 billion rupees in imports but only 258.8 million in exports.
On a more positive note, Nepal achieved its highest trade surplus with Denmark, recording Rs 467.05 million. Imports from Denmark were Rs 354.05 million, while exports reached Rs 822.01 million. Nepal's major imports comprised petroleum goods such as diesel, petrol, and LPG, with diesel alone costing Rs 143.97 billion. Carpets and cardamom were the top exports, accounting for Rs 10.57 billion and Rs 7.93 billion, respectively. Despite significant progress, Nepal still faces hurdles in managing its trade imbalance.
