KATHMANDU: The Department of Customs has released the foreign trade data for the fiscal year FY 2023/24. According to the data, Nepal experienced a trade deficit of more than Rs 1400 billion in one year.

In the last year, Nepal imported goods and services worth more than Rs 1592.98 billion. During the same period, Nepal exported goods and services worth Rs 152.38 billion.

Petroleum products were the most imported items last year, with imports worth Rs 337.34 billion. On the export side, carpets were the most exported product from Nepal, with exports exceeding Rs 10.57 billion.

The ten most imported items include diesel, petrol, Liquefied Petroleum Gas (LPG), iron products, rolled iron/steel coils, smartphones, medicaments, gold, coal and ATF.   

Likewise, the ten most exported items were carpets, black cardamom, rolled iron/steel coated with aluminum-zinc alloys, mixtures of juices, refined bleached deodorized palmolein, felt, rolled iron/steel painted,  varnished or coated with plastics, single yarn, unbleached woven fabrics of jute, and other yarn such as polyester staple fibres.