Author Archives: National Exports

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Nepal’s trade up in 2 months of current fiscal year

Nepal’s international trade increased slightly in the first two months of the current 2024-25 fiscal year, though not as high as expected, according to the Department of Customs.

The total imports and exports from mid-July to mid-September stood at 287.63 billion Nepali rupees, up from 286.19 billion rupees over the same period in 2023-24.

The imports grew by 1.08 percent to 262.54 billion rupees, while exports declined by 5.12 percent to 25.09 billion rupees.

“The imports and exports are below our projection,” said Mukti Prasad Shrestha, director at the Department of Customs.

Nepal imported Chinese goods worth 52.1 billion rupees in the first two months of 2024-25, up from 46.54 billion rupees over the same period of last fiscal year.

According to the Department of Customs figures, exports to China were valued at 290.74 million rupees, down from last fiscal year’s 543.37 million rupees. (1 Nepal rupee equals 0.0075 U.S. dollars)

Source

Trade and Investment Arrangement Signed with Australia

Nepal signed a trade and investment framework arrangement (TIFA) with Australia on 9 February 2024 to strengthen economic ties and promote trade. The Nepal-Australia TIFA is seen as likely to benefit certain sectors in Nepal, including tourism and hospitality; the country’s emerging information and communications technology activities; and agribusiness.

Australia is Nepal’s sixth‑biggest foreign investment partner, and Nepali students’ destination of choice for higher education and vocational training. Australia is also a big contributor to the recovery of Nepal’s tourism industry. In 2023, nearly 39,000 Australians entered Nepal, making the country Nepal’s fifth‑largest source of foreign visitors. In recent years, Nepal’s services exports to Australia have soared to AU$160 million (US$105 million) from only AUS78 million prior to the 2022‑2023 period, driven by growth in travel services.

Buying/Importing from Nepal

Nepal is unique on a number of levels, perhaps the most important being its sheer natural beauty. Home of the world’s highest mountain range and containing eight of the world’s ten tallest mountains, Nepal is a magnet for the world’s most avid mountaineers, rock climbers, trekkers, and adventure seekers. Nepal’s significant variation in altitude ranges from 67 meters in south-eastern Terai, to the tallest mountain on earth, Sagarmatha, measuring 8,848 meters, gives Nepal a remarkable variety in its floral resources. The country is habituated by people of more than 100 ethnicities and therefore is home to a wide array of cultures and civilizations.

Nepal’s exports reflect this diversity. Products like tea and coffee are grown in the most pristine hills, and its medicinal plants grow in untouched remote mountains. Craftsmen honing their skills for centuries produce jewelry and carpets whose designs not only reflect their skills but also Nepal’s culture and religion. These products are also produced by people of low- to middle-income families, therefore, providing much-needed support to their households.

Being an LDC and member of several multilateral and regional agreements like WTO, SAFTA and BIMSTEC have meant that Nepal enjoys preferential advantages in several important markets in North America, Europe, South Asia, and Australia. As a result, Nepalese goods are not only of excellent quality of also cheaper to import making them attractive to foreign prospective buyers.

If you are a foreign firm or individual who is planning to import the unique products offered by Nepali producers, this portal will help you access all the required support.

First, consider registering to the portal to access all the available information here Click to Register to Portal
Discover the major products offered by Nepal Click to View Major Commodity for Export
Explore the profile of the traders here Click to View Trader Profile
Check out incentives offered to the exports Click to Check Incentive from Nepal

Nepal participated in Biofach Trade Fair 2022 in Nuremberg, Germany.

Mr. Rabindra Duwady, Deputy Director, and Mr. Govinda Acharya, Senior Officer of Trade and Export Promotion Centre (TEPC) coordinated and participated in the Nepal Pavilion in Biofach Trade Fair (26-29 July 2022) happened in Nuremberg, Germany. The Nepali National Pavilion in the Biofach was facilitated by the Embassy of Nepal in Berlin in collaboration with the Ministry of Foreign Affairs. Here the promotion of Organic Products from the farms of Nepal was the main objective to participate in Biofach Trade Fair held on 26-29 July 2022 in Nuremberg, Germany: The Nepali National Pavilion in the Biofach was facilitated by the Embassy of Nepal in collaboration with the Ministry of Foreign Affairs, Ministry of Industry, Commerce and Supplies, Trade and Export Promotion Centre (TEPC), Nepal Herbs and Herbal Products Association (NEHHPA), and Import Promotion Desk (IPD), Germany, to the 6 Nepali companies from Nepal. Furthermore, the pavilion was utilized to promote the Tourism Industry of Nepal by distributing the tourism brochures and screening the tourism promotional videos of Nepal. Some selected pictures of the event, including the inauguration of the Pavilion by H.E. Ambassador Ram Kaji Khadka.

Federal Budget: 8% Cash Incentives in some of the Potential Export products

While announcing the budget speech on Jestha 15, 2079 Honorable Finance minister announced that 8% of cash subsidy will be on exports of products such as cement, clinker, Steel, footwear, processed water, IT based business and others. It is expected to uplift the export and reduce the trade deficit.