Trade imbalance deepens with China, imports worth Rs 3.82 trillion in 11 months

Kathmandu. Nepal’s trade imbalance with China, the second largest source of imports, seems to be deepening. According to the statistics of the Department of Customs in the first 11 months of the current fiscal year, although a large quantity of goods were imported from China, the export was very low.

According to the statistics made public by the Department of Customs, Nepal imported goods worth Rs 3.82 trillion from China in the review period. However, Nepal’s exports to China stood at over Rs 1.59 billion in the same period. China is in the tenth position in the list of major export destinations for Nepal. This indicates that there is huge trade deficit in Nepal-China trade relations.

At the same time, Nepal’s trade with India, the largest trading partner, is also high. According to the Department, Nepal imported goods worth Rs 1092 billion from India and exported goods worth Rs 228.13 billion to India.

According to statistics, India is Nepal’s largest import source and major export destination. Out of the total imports, India accounted for 57.7 per cent of the total imports and 82.1 per cent of the total exports. According to trade experts, excessive imports and low exports from China are increasing pressure on Nepal’s trade balance. According to them, it is necessary to expand the access of Nepali products to China, increase the production of exportable goods and adopt measures for trade facilitation.