Himal Press 
KATHMANDU: Nepal’s merchandise exports increased by 31.8%, totaling Rs 98.79 billion in the first six months of fiscal year 2024/25. This marks a sharp turnaround from the 7.2% decline recorded during the same period last year.
According to the Current Macroeconomic Situation Report for the first six months of the fiscal year 2024/25 released by the Nepal Rastra Bank (NRB) on Sunday, key export destinations such as India and China saw export growth of 46.1%, 19.7%, respectively, while exports to other countries went up by 1.0%. Exports of soybean oil, tea, polyester yarn, cardamom and particle board surged during the review period, while palm oil, zinc sheets, ginger and readymade garments experienced declines.
On the import front, merchandise imports rose by 7.1% to Rs 822.37 billion, compared to a 3.1% decline in the same period of the previous fiscal year. Imports from India, China and other countries increased by 5.9%, 8.9%, and 90%, respectively. Key imports such as crude soybean oil, rice, transport equipment, and edible oil saw growth, while petroleum products, gold, and chemical fertilizers declined.
The total trade deficit expanded by 4.4% to Rs. 723.58 billion over the first six months of 2024/25, despite an improvement in the export-import ratio, which rose to 12.0% from 9.8% in the same period last year.
In terms of trade composition, intermediate and final consumption goods dominated exports, accounting for 40.4% and 58.8% of total exports, respectively. On the import side, intermediate goods made up 50.2% of the total imports, followed by final consumption goods (41.0%) and capital goods (8.8%).
