Foreign trade sees a decline in the first month of FY 2023/24

Foreign trade declined by 2.28% in the first month of the current fiscal year — 2023/24, as compared to the first month of the previous fiscal year — 2022/23.

Revealing statistics on August 23, the Department of Customs said trade worth over 142 billion rupees was done last month — from mid-July to mid-August (Shrawan), which amounted to over 146 billion rupees in the same period the previous year.

According to the department, both imports and exports have decreased. Goods worth over 129 billion rupees were imported in Shrawan, which is 1.56% less than the same month last year — when import volume remained at 131 billion rupees.

Similarly, there has been an 8.65% decline in exports.

Exports accounted for 13.52 billion rupees this Shrawan, while the amount stood at 14.8 billion in Shrawan last year.