In Current Fiscal Year, Nepal's Imports from China Increase While Share of India Falls
The Wire Staff
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New Delhi: Imports from China to Nepal has risen more than what was expected in the first eleven months of the current fiscal year ending mid-June.
At the same time, imports from India have continued to decrease, reported The Kathmandu Post.
According to Nepal’s Trade and Export Promotion Center, which is the country’s national trade promotion body, Nepal’s imports from China have increased by 34.8 per cent during this period. On the other hand, imports from India have fallen by 3.1 per cent during the same time period.
Experts have said that the increasing imports from China is primarily because of a rise in the entry of electric vehicles (EVs).
The experts have attributed the fall in imports from India to the export curbs imposed on food by the neighbouring country.
Nepal imported 7,931 EVs worth Rs21.83 billion from China during the first 11 months of the current fiscal year, up from 1,269 EVs worth Rs3.75 billion in the same period last year, reported The Kathmandu Post.
The Spokesperson of the Trade and Export Promotion Centre India’s share in Nepal’s total imports is 65.5 per cent while China has a share of 18.8 per cent.
Even though India has a greater share in the country’s imports, Nepal’s trade is slowly shifting to China.
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