Kathmandu, May 20: By the end of May of the current financial year, Nepal has experienced a trade deficit amounting to Rs. 8.44 trillion. The Customs Department’s latest data reveals that by the end of May, the country imported goods worth Rs. 12.03 trillion while exporting goods valued at Rs. 3.59 trillion.

The department’s report highlights that during the first ten months of the current financial year, Nepal’s total foreign trade amounted to Rs. 15.62 trillion, marking a 2.50 percent decline compared to the same period last year. Imports decreased by 2.39 percent, while exports fell by 3.61 percent.

Specifically, Nepal incurred a trade deficit of Rs. 7.29 trillion with India, having imported goods worth Rs. 8.15 trillion and exported goods worth Rs. 860 billion. The trade deficit with China, Nepal’s second-largest trading partner, stood at Rs. 2.38 trillion, with imports totaling Rs. 240.83 billion and exports amounting to Rs. 22.74 billion.

Petroleum products represented the largest import category up to the end of April, including diesel worth Rs. 1.15 trillion, petrol worth Rs. 56.80 billion, and cooking gas worth Rs. 46 billion. Additionally, mobile phones worth Rs. 24 billion were imported.

On the export front, Nepal’s most significant exports included carpets valued at Rs. 8.79 billion, cardamom worth Rs. 6.91 billion, iron products totaling Rs. 5.52 billion, and palm oil amounting to Rs. 5.6 billion.