January 24: Nepal’s import volume in mid-December to mid-January was the lowest in the last three months.

Analysts believe that the imports have declined due to the high interest rates of banks and the government’s policy to discourage imports.

However, it has been found that export of goods from has increased in the same duration.

Compared to the same period last year, the overall trade of 6 months has decreased by 20 per cent and export by 32 per cent.

According to the customs department, Nepal imported goods of Rs 792 billion in the first six months of the current year. During the corresponding period of last year, the import volume was equal to Rs 1000 billion.

In the current fiscal year, the total volume of imports has decreased by 20.68 per cent.

Meanwhile, Nepal exported goods worth Rs 80.80 billion during this period.

In mid-December to mid-January alone, Nepal imported goods worth Rs 127.91 billion while the exports were worth Rs 13.5 billion. This is the lowest imports and highest export in the last three months.

A large amount of money Nepal spends on imports goes to cooking gas and petroleum products. Nepal spent Rs 143 billion during the first six months on cooking gas and petroleum products.

Nepal spent Rs 18 billion more than last year for the import of cooking gas, diesel, petrol and aviation fuel. But the quantity has decreased. Due to the increase in the price of petroleum products, the amount of money spent on imports has increased, but the quantity has decreased.

In the first six months of the current year, Nepal imported cooking gas worth Rs 28.20 billion, diesel worth Rs 70.10 billion, aviation fuel worth Rs 11.24 billion and petrol worth Rs 33.53 billion.

During the same period last year, cooking gas worth Rs 29.23 billion, diesel worth Rs 61.47 billion, aviation fuel worth Rs 5.33 billion and petrol worth Rs 29.27 billion were imported.

This year Nepal imported 334.31 thousand kiloliters of petrol, 550.90 thousand kiloliters of diesel, 87.88 thousand kiloliters of aviation fuel and  247.90 million thousand kg of cooking gas.

Due to the government's ban on the import of luxury goods, overall imports have decreased by 20 per cent.