Nepal imported goods worth Rs. 401.51 billion in the first two months of the current fiscal year, according to the Department of Customs. Imports increased 31.58% from Rs. 305.15 billion recorded during the same period last fiscal year.

Soybean oil was the largest imported commodity, with imports worth Rs. 38.50 billion during the period. Diesel and petrol followed, with imports valued at Rs. 28.30 billion and Rs. 16.13 billion, respectively. LPG and chemical fertilizers were among the other major imports.

Exports also recorded strong growth, rising 61.86% to Rs. 76.58 billion from Rs. 47.32 billion in the first two months of the previous fiscal year.

Soybean oil was again the largest export item, with exports worth Rs. 36.40 billion during the period.

Nepal’s total foreign trade reached Rs. 478.10 billion, up 35.84% from Rs. 352.47 billion a year earlier.

Despite faster export growth, the country recorded a trade deficit of Rs. 324.93 billion, an increase of 26.02% from Rs. 275.83 billion in the corresponding period last fiscal year.

Imports accounted for 83.98% of total foreign trade, while exports accounted for 16.02%. The export share has increased from 13.42% during the same period last fiscal year.