KATHMANDU, Nov 23: Nepal’s foreign trade showed signs of recovery in the fourth month of the current fiscal year. Exports grew by 4.16% to Rs 52.67 billion, while imports increased marginally by 0.17% to Rs 513.38 billion compared to the same period last year, according to the Department of Customs (DoC).

After three months of declining trade figures, cross-border trade rebounded between mid-October and mid-November. However, the trade deficit widened due to a relatively smaller growth in exports. As of mid-November, Nepal’s trade deficit stood at Rs 460.71 billion, a slight decline of 0.26% from the same period last year.

Notably, imports of electric vehicles (EVs) surged by 26% during the first four months of the fiscal year. Nepal imported 4,217 EV units worth Rs 10.53 billion, generating Rs 5.72 billion in customs revenue. In the same period last year, 3,115 units worth Rs 7.70 billion were imported.

The country also imported 827,925 mobile phones valued at Rs 13.40 billion, with 80% sourced from China, 15% from India, and the rest from countries including the US, Japan, South Korea, and Vietnam.

Despite the improvement in trade performance, the growing trade deficit underscores the need for stronger export-oriented strategies to achieve a more balanced trade ecosystem