January 22: Import and export through the Birganj customs has declined in the first six months of the current fiscal year.

As per the statistics of Birgunj Customs, the import decreased by 15.3 percent and the export by 62.7 percent between mid-July to mid-January this fiscal year compared to the  corresponding period of last year

In the first 6 months of last fiscal year, goods worth Rs 348 billion were imported into Nepal through this customs point.

Dhan Bahadur Baruwal, Chief Customs Officer of Birgunj Customs, informed that goods worth Rs 295 billion have been imported during the same period this year.

Exports on the other hand decreased to Rs 20 billion from Rs 55 billion during the review period. In the previous years, the export of refined cooking oil from Nepal used to take place in a considerable amount when India imposed high customs duty on oil imports from other countries.

Nepal had been exporting refined oil to India by importing crude oil from third countries. However, after India adopted a zero duty policy on oil imports, the export from Nepal reduced significantly as the exporters could no longer benefit from the customs duty gap. Products such as shoes, yarn, and juice are mainly exported through Birgunj Customs.