The NEPSE Journal
Market commentary, data deep-dives, and trading notes from the NEPSE Trading desk.
Nepal’s imports from China climbed 25.1% in the first two months of FY 2025/26, reaching Rs. 65.17 billion, led by telecom equipment, fertilizers, machinery, and solar panels. This surge cements China’s role as Nepal’s second-largest trade partner and reflects rising industrial and technological demand.
In the first two months of FY 2025/26, Nepal’s imports from India totaled Rs 173.54 billion, up 8 percent year-on-year. Petroleum, vehicles, and rice led the growth, confirming India’s position as Nepal’s top trade partner and major supplier of essential goods.
In FY 2025/26, Nepal’s imports from India rose 8% to Rs. 173.54 billion, driven by strong growth in vehicle imports (+33%) and rice/paddy imports (+68%). The rise indicates revived consumer demand and agricultural dependency but also reinforces concerns about Nepal’s widening trade deficit with India.
In the first two months of FY 2025/26, Nepal imported petroleum products worth Rs. 39.23 billion from India, representing a 7.6% rise in overall imports. Fuel remains Nepal’s top import item, driven by growing transport and industrial demand. However, the trend raises concerns about the widening trade deficit and import dependency despite modest economic recovery.
Nepal’s imports from India grew 8% to Rs. 173.54 billion in the first two months of FY 2025/26, driven by surges in fuel, rice, machinery, and vehicle imports. Petroleum products remained the top import at Rs. 39.23 billion, followed by vehicles, rice, and bitumen. While the data signals economic revival, experts warn that continued reliance on Indian imports could heighten trade vulnerabilities.
Nepal’s imports from India rose 8% to Rs. 173.54 billion in the first two months of FY 2025/26. Petroleum products (Rs. 39.23 billion) and vehicles and spare parts (Rs. 15.14 billion) led the import list, alongside rising imports of bitumen, rice, and agricultural machinery. The surge reflects economic recovery and strong consumer demand, but analysts warn of long-term dependency risks on Indian imports.
NRB’s Mid-September 2025/26 report shows that imports of other machinery rose slightly by 1.5% to Rs. 12.91 billion, telecommunication equipment jumped 29.1% to Rs. 10.55 billion, and electrical goods and equipment increased moderately by 7–14%. The data reflects steady digital expansion and industrial activity but also points to rising import dependency in Nepal’s energy and technology sectors.
According to NRB’s Mid-September 2025/26 report, Nepal’s vegetable imports rose 44.8% to Rs. 2.97 billion, while rice and paddy imports climbed 67.8% to Rs. 5.60 billion. The surge reflects strong consumption demand and seasonal shortfalls in local production. Total imports grew 16.2% to Rs. 305.15 billion, led by petroleum, crude oil, and fertilizers, underscoring Nepal’s continuing dependency on imported food and fuel commodities.
Gold imports in Nepal surged 114.7% to Rs. 3.42 billion in the first two months of FY 2025/26, driven by festive demand, strong remittance inflows, and lower global prices. The metal now represents 1.1% of total imports, according to NRB’s macroeconomic report. While the increase signals a rebound in consumer spending, experts warn of potential pressure on foreign reserves if high bullion imports persist.
