Nepal's trade deficit with India three times more than with China

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Kathmandu, 8 August: The amount of trade deficit of Nepal with India was three times more than the amount of the deficit with China in the last fiscal year.

The Foreign Trade Statistics (FTS) of the fiscal year 2020/21 released by the Department of Customs showed that the trade deficit with India crossed Rs. 865.2 billion whereas the deficit with China remained Rs. 232.9 billion.

The bulging volume of trade deficit with India is attributable to the hefty imports over the year. The imports of Nepal from India were 4 times the imports from China. The FTS data showed that imports from India amounted to Rs. 971.6 billion in the fiscal year 2020/21 while the import from China stood at Rs. 233.9 billion.

Nonetheless, Nepal's export to India crossed 104.6 times the export to China. The FTS showed that the annual export to India in FY 2020/21 was Rs. 106.3 while the export to China amounted to Rs. 1.01 billion.

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