Increase in Card Imports: 61 Million NPR Worth of Cards Imported in the First Two Months of the Fiscal Year
Author
NEPSE trading
In Nepal, playing cards is popular during festivals like Dashain and Tihar, which drives up demand during this time. According to the Customs Department's statistics, Nepal imported playing cards worth NPR 61.16 million in just the first two months of the current fiscal year.
Imports in the First Two Months: In the fiscal year’s first two months, July and August, cards worth NPR 61.16 million were imported, generating NPR 35.28 million in revenue.
Last Year’s Data: In the same period (July and August) last year, card imports totaled NPR 64.48 million.
Main Import Countries: Most card imports come from China and India. In the current fiscal year’s first two months alone, cards worth NPR 52.1 million were imported from China and NPR 9.06 million from India.
Growth Over the Past Years:
In fiscal year 2079/80, card imports totaled NPR 321.88 million.
In fiscal year 2078/79, imports were NPR 212.79 million.
In fiscal year 2077/78, imports were NPR 286.26 million.
Imports from Other Countries: Besides China and India, playing cards are also imported from countries like the USA, UK, Spain, and Brazil.
The high demand for playing cards during festivals is contributing to the increase in imports. This has resulted in both the outflow of foreign currency and a source of revenue for Nepal. Over time, both the quantity of imported cards and the revenue collected have shown a rising trend.
Due to the influence of the card-playing culture and the revenue collection it generates, Nepal has had to spend foreign currency on these imports. This indicates the need to explore local production alternatives to reduce reliance on imports.