SATV, Kathmandu, June 23: Nepal's exports reached a record high during the first 11 months of the current fiscal year, totaling nearly Rs. 278 billion, marking a significant milestone for the country's external trade sector.

According to the foreign trade statistics released by the Department of Customs on Monday, goods worth Rs. 277.96 billion have been exported between mid-July 2025 and mid-June 2026, the highest export value ever recorded in the first 11 months of a fiscal year. 

The figure represents a 12.28 per cent increase compared to exports worth Rs. 247.57 billion during the corresponding period of the previous fiscal year.

The latest performance has already surpassed the previous record of Rs. 277.03 billion recorded during fiscal year 2024/25, highlighting a strong recovery and expansion of Nepal's export sector.

Goods worth Rs. 200.02 billion were exported in the fiscal year 2021/22. After that, the export of goods had dropped in 2022/23 and 2023/24.  Goods worth Rs. 157.14 billion had been exported in the fiscal year 2022/23 and Rs. 152.38 billion in the fiscal year 2023/24.

Export growth a positive signal

The increment in the exports of processed agricultural products, edible oils, carpets, textiles, tea, cardamom and other manufactured goods have contributed to export growth in recent years.

However, the historic export growth was driven largely by a sharp rise in shipments of processed edible oils and agricultural commodities.  During the review period, the country exported edible oils worth Rs. 131.10 billion, accounting for 47 per cent of the country's total exports.

Of the total, soybean oil exports surged to Rs. 113.18 billion, accounting for nearly 40 per cent of Nepal's total exports during the review period.

In the corresponding period of the previous fiscal year, soybean oil exports amounted to only Rs. 93.51 billion. Likewise, exports of sunflower oil and palm oil reached Rs. 8 billion and Rs. 7.31 billion, respectively.

Similarly, exports of cardamom, one of major indigenous export products, increased significantly to Rs. 12 billion, up from Rs. 7.19 billion a year ago. 

Besides edible oils and cardamom, exports of carpets, textiles, tea, coffee and other manufactured products continue to contribute to foreign exchange earnings.

Tea and coffee exports, meanwhile, declined slightly. Exports of tea and coffee stood at Rs. 3.61 billion during the first 11 months of the current fiscal year, compared to Rs. 4.30 billion during the same period last year.

Similarly, the woolen carpet worth Rs. 9.38 billion, readymade garment worth Rs. 8.24 billion and pashmina worth Rs. 3.22 billion were exported during the first 11 months of the current fiscal year. 

Imports continue to surge

Despite achieving a historic level of exports, the country continues to import far more than it exports.

The country imported goods worth Rs. 1,894.09 billion during the review period, an increase of 15.16 per cent from Rs. 1,644.79 billion in the corresponding period of the previous fiscal year. 

As a result, the country's trade deficit widened by 15.67 per cent to Rs. 1,616.13 billion. Total foreign trade reached Rs. 2,172.06 billion, representing a growth of 14.78 per cent compared to the same period last year.

Exports accounted for only 12.8 per cent of total foreign trade, while imports made up 87.2 per cent. 

Although export earnings increased in absolute terms, the share of exports in total trade declined slightly from 13.08 per cent to 12.80 per cent.

The import-to-export ratio also worsened, rising from 6.64 times to 6.81 times. The figures suggest that domestic production remains insufficient to meet growing consumer and industrial demand, forcing the country to rely heavily on imported goods.

During the review period, petroleum products remained the largest import item with imports totalling Rs. 297 billion. This included diesel worth Rs. 152.67 billion, petrol worth Rs. 68.17 billion, aviation fuel worth Rs. 24.06 billion, kerosene worth Rs. 655 million, and liquefied petroleum gas (LPG) worth Rs. 52.21 billion.

The country also imported significant quantities of crude edible oils, including crude soybean oil worth Rs. 119.63 billion, crude sunflower oil worth Rs. 19.11 billion, and crude palm oil worth Rs. 12.97 billion.

Imports of cereals reached Rs. 55.92 billion during the first 11 months of the fiscal year.

Meanwhile, imports of electric vehicles, including four-wheelers and three-wheelers, amounted to Rs. 27.7 billion, while smartphone imports reached Rs. 43.45 billion by mid-June of the current fiscal year.