Exports decreases by 8 percent in first month of FY 2023/24, import worth Rs 129 billion, and export Rs 13 billion

KATHMANDU: Exports decreased by 8.65 percent in Shrawan, in the first month of the new fiscal year 2023/24.

According to the Department of Customs, goods and services worth 14.80 billion rupees were exported in the first month of last financial year; however, it shrunk to 13.52 billion this year.

Imports also decreased by 1.56 percent in Shrawan (July 17-August 17). In the Shrawan last year, 131.28 billion worth of goods were imported, whereas the import was confined to 129.23 billion rupees in the same period this year.

Overall foreign trade decreased by 2.28 percent in the first month of the running fiscal year.

The trade deficit decreased by 0.66 percent from the one in the last year.

According to the statistics of the department, this year, there was a trade deficit of 116.47 billion rupees in Shrawan last year.