First Business News Portal in English from Nepal
KATHMANDU: Imports affected by the covid-19 pandemic is gradually returning to a normal situation.
According to the statistics of the Department of Customs (DoC) of the first seven months of the Fiscal Year 2020/21, the import has been equal to the goods and services imported in the same period of the previous year.
However, even though imports is becoming normal for a long time, exports have not eased.
In China, which is a major contributor to imports and exports, exports of goods and services from Nepal have declined by 47 percent.
Exports have increased by 7.62 percent in the first seven months of the current fiscal year. On the one hand, exports of goods and services produced in Nepal have increased, while on the other hand, exports to China, a major contributor to imports and exports, have declined.
By mid-January of the current fiscal year, Nepal had exported goods and services worth Rs. 1.65 billion.
The data of the customs department shows that no goods and services were exported from Nepal and China in the current fiscal year.
Last year, goods and services worth Rs 26.23 billion were imported from the Rasuwagadhi checkpoint connected with China, while goods and services worth Rs 58.23 million were exported from Nepal.
Similarly, another port connected to China, Tatopani, imported goods worth Rs 4.88 billion in the first seven months of last year and exported goods and services worth Rs 137.67 million from Nepal.
In the first seven months of the current fiscal year, goods worth Rs 7.12 billion were imported from Rasuwagadhi checkpoint and goods worth Rs 2.53 billion from Tatopani.
However, the data from the customs department shows that even though the imports from these two customs offices are significant, the exports are in zero condition.
Similarly, other legislations, pharmacy goods, hand-made paintings have been exported.
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