January 19, Kathmandu.
Nepal exported 74.97 billion rupees (563.73 million US dollars) in the second half of last year. However, imports amounted to 768.17 billion rupees (577.615 billion US dollars), leaving the country with a trade deficit of 693.2 billion rupees (-521.242 billion US dollars).
Iron sheets top the export chart with an export worth 6.14 billion rupees (46.17 million US dollars). Although iron is not actively mined in Nepal, raw iron imported from foreign markets is processed to produce durable iron sheets at cheaper rates.
Synthetic yarn, used to produce clothing items, is second on the list, with an export worth 5.7 billion rupees (42.86 million US dollars).
Woollen carpets are among the most popular Nepali products in international markets. In the 90s, the carpet industry employed about 300,000 people. Although the industry is not very big, carpets worth 5.23 billion rupees (39.33 million US dollars) were exported in the first six months of the current fiscal year. Likewise, processed cloth worth 4.67 billion rupees (35.12 million US dollars) was shipped in the same period.
Cardamom, a spice that grows in the eastern Nepali districts of Ilam, Taplejung, Pachthar, and Sankhuwasabha, is a significant source of income for the people of that region. The price of cardamom fluctuates by large margins. Nepali farmers received more than 1,500 rupees (11 US dollars) for a kilo of cardamom compared to 500 to 1,000 rupees (four to eight US dollars) a kilo in the previous years. Cardamom exports earned Nepal 3.91 billion rupees (29.4 million US dollars) in the last six months of 2023.