May 6: Goods worth Rs 450 billion were imported via Birgunj entry point in the past nine months of the current fiscal year 2023/2024.Similarly, goods worth Rs 23 billion were exported via the same entry point.

According to the Birgunj Customs Office, both imports and exports have decreased compared to the previous fiscal year. When imports decreased by 14.61%, exports dropped by 21.84%.

In the first nine months of the last fiscal year, goods worth Rs 527 billion were imported while the goods amounting to Rs 29 billion were exported.

After India imposed a policy of zero duty on the import of refined and semi-refined cooking oil, export of cooking oil from Nepal to India has come to a standstill.

From this border point, mainly petroleum products, vehicles, and industrial raw materials are imported. Items like edible oil, juice, cloth, yarn, and pineapples are exported from Birgunj border point.

While Birjgunj Customs Office reported total transaction of worth Rs 473 billion, the trade deficit reached 427 billion. With the fall in imports and export, the trade deficit has slumped by 14.18% compared to the same period in the previous fiscal year.

Following the decrease in imports and exports, the revenue collected by the Birgunj Customs Office has been affected. The Customs Office has collected only 62.73% of its revenue target in the first nine months of the current fiscal year.

The customs office has collected 114 billion in revenue against its total target of 181 billion in the first nine months of the current fiscal year.