54 Billion Worth of Commodities Imported to Nepal in Six Months

During the six months of the current fiscal year, commodities worth Rs. 54 billion have been imported to Nepal.

According to the Customs Department, the domestic import of 54 billion 30 million rupees has been made from Shrawan to Poush. For the import worth of 54 billion 30 million rupees, 10.14 percent of the amount has been spent on the process of bringing the commodities to Nepal.

The domestic import of last fiscal year for the same six months was less than 42 percent of this year i.e. Rs. 38.3 billion.

Why it matters:

• Due to the increase in the import of goods this year, the revenue has also increased. The government has earned Rs. 4 billion 9.1 million this year whereas the revenue for last year was Rs. 3 billion 80 million, for the same time period.
• For the last fiscal year, the total cost spent on import of domestic material was Rs. 82 billion 15 million, whereas Rs. 8.87 billion revenues were collected.

The Details of the import:

The materials have mostly been imported from India, China, Thailand, America and other European countries.

• Rs. 78 billion has been spent on fuel.
• Rs. 51 billion has been spent on iron and steel.
• Rs. 35 billion has been spent in transportation vehicles and their parts.