Himal Press 
KATHMANDU: Both imports and exports of the country fell in the fiscal year 2023/24, indicating that all is not well with the country’s economy.
According to international trade data released on Monday by the Department of Customs, imports fell by 1.16% to Rs 1,592.98 billion, while exports were down by 3.03% to Rs 152.38 billion.
In the fiscal year 2022/23, Nepal had imported goods and services worth Rs 1,611.73 billion. Likewise, the country exported goods worth Rs 167.14 billion during the year.
The size of foreign trade also shrunk by 1.33% during the year. According to the Department of Customs, total foreign trade was worth Rs 1,745.36 billion in 2023/24, down from Rs 1,768.87 billion a year earlier. The share of imports in total foreign trade increased by 0.17% to 91.27% during the review year. This share was 91.12% one year earlier.
The country’s trade deficit fell by 1.33% to Rs 1,440.60 billion thanks to the drop in imports.
Top 10 Imports
| S.N. | Commodity | Import Value (Rs in ‘ 000) |
| 1 | Diesel | 143976927 |
| 2 | Petrol | 68102036 |
| 3 | Liquidified Petrolium Gas (LPG) | 55618425 |
| 4 | Ferrous products | 39034385 |
| 5 | Flat/hot-rolled iron/steel | 34572308 |
| 6 | Smartphones | 28666235 |
| 7 | Other – Medicaments | 27465972 |
| 8 | Gold | 23653916 |
| 9 | Other coal, not agglomerated | 22899151 |
| 10 | ATF | 20780413 |
Top 10 Exports
| S.N. | Commodity | Export Value (Rs in ‘ 000) |
| 1 | Carpets and other textile floor coverings | 10572499 |
| 2 | Big Cardamon (Alaichi) | 7938183 |
| 3 | Rolled iron/steel | 6866282 |
| 4 | Mixtures of juices | 6237892 |
| 5 | Refined bleached deodorized palm olein | 5627199 |
| 6 | Felt Products | 4479415 |
| 7 | Rolled iron/steel | 4312409 |
| 8 | Single Yarn | 4283523 |
| 9 | Unbleached Woven Fabrics of Jute | 4046697 |
| 10 | Other Yarn | 3956155 |
