India's non-oil exports to Nepal fell 13% to $943 mn in April-May

Himalayan neighbour bans imports of non-essentials amid depleting forex; dip could impact India's FY23 trade deficit which is already worsening on fears of recession in developed countries

India's exports of iron and steel, automobiles, and electronic items to Nepal declined during the April-May period with the Himalayan neighbour discouraging imports of non-essential items amid depleting forex reserves.

According to data released by the commerce ministry, non-oil exports to Nepal dropped 13.2 per cent to $943.2 million during the April-May period.

Nepal was India’s 11th largest export destination in FY22 with $9.6 billion shipments. India enjoyed the third highest trade surplus with Nepal at $8.3 billion in FY22, preceded by the US ($32.8 billion) and Bangladesh ($14.2 billion). A dip in exports to Nepal could adversely impact India’s