Economy and Trade
Nepal and India has age old relation in trade and commerce. India is Nepal's largest trade partner and source of foreign investment. Total bilateral trade has reached US $3.21 billion (NRS 257.10 billion) during Nepalese fiscal year 2009-10. Nepal’s total trade share with India reached 59.08 in Nepalse Fiscal year 2009-10.
Readymade garment is the topmost export item to overseas countries, followed by woollen carpets and pashmina. Other traditional export items to overseas countries are hides and goatskin, lintels, metal and wooden handicrafts, agro- and forest-based primary and secondary goods, Leather, raw jute, lentil, large cardamom, ginger, tea and medicinal herbs. Coffee, Honey, Terry towels, micro transformers, blankets and buttons are emerging as new export items.
Visualizing the scope of technology enhancement and production potentials, the upcoming export items are mushroom, saffron and floriculture products. Vegetable seeds, orthodox and CTC tea, niger seeds, essential oils from medicinal and aromatic plants, leather goods, woollen goods, silver jewellery and silverware, gold jewellery, etc also offer good export prospects beside the existing exportable items.
Over the years, Nepalese imports have increased substantially and undergone major structural changes. The major import items include petroleum products, machinery and spare parts, transport equipment, pharmaceuticals, textiles, chemicals, electrical goods, vehicles and spare parts, medicines and medicinal equipment, raw wool, betel nuts, aircraft and spares parts, raw silk, threads, fertilizers, telecommunication equipment, etc