After Pakistan, Nepal also became poor, friendship of dragons became the reason!

Nepal economic crisis: If we look at the current economic situation of Nepal, it is known that from July to November 2024, the country has suffered a trade deficit of Rs 460 billion. This deficit is mainly due to the imbalance between imports and exports. In these four months of the financial year, Nepal imported goods worth Rs 513.38 billion, while its exports remained limited to only Rs 52.67 billion. This huge imbalance is the main reason for trade deficit.

According to official data of the Customs Department, Nepal’s trade deficit has reached Rs 460.71 billion in the first four months of the current financial year. According to the Customs Department, compared to last year, this time from July to mid-November, an increase of 0.17 percent in imports and 4.16 percent increase in exports was seen.

Meanwhile, Nepal’s trade relations with India have been significantly affected, resulting in a loss of Rs 281 billion between the two. For example, between July and November alone, Nepal imported goods worth Rs 317 billion from India, with diesel (Rs 29.4 billion), petrol (Rs 21.56 billion) and LPG (Rs 18.85 billion) being the major imports. Whereas in return Nepal has given goods worth only Rs 36 billion to India.

Under the leadership of Prime Minister KP Sharma Oli, Nepal has strengthened its relations with China. Meanwhile, there is news that he is going to visit China once again. The Oli government signed the BRI (Belt and Road Initiative) agreement, which was opposed by India. Perhaps due to this reason Nepal has suffered economic loss.

attempt to resolve

To reduce trade deficit, Nepal will have to increase its export capacity and reduce dependence on imports. Along with this, there is a need to maintain balanced trade and diplomatic relations with both China and India.