KATHMANDU, July 23 (Xinhua) -- Nepal's import of petroleum products has declined in the past three fiscal years, latest customs figures showed.
Nepal imported diesel, petrol and liquified petroleum gas valued at 267.69 billion Nepali rupees (1.99 billion U.S. dollars) in 2023-24 ending in mid-July, as against 278.76 billion rupees (2.07 billion dollars) in 2022-23 and 305.17 billion rupees (2.27 billion dollars) in 2021-22, according to the Department of Customs.
Petroleum products have been the largest import item in Nepal for many years.
"One of the main reasons behind the decline in the import of petroleum products could be slowing economic activities in the country in the past two years," Punya Bikram Khadka, information officer at the department, told Xinhua on Tuesday.
Nepal's economy grew by 1.95 percent in 2022-23, and was expected to grow by 3.87 percent in 2023-24.
The growing use of electric vehicles and electric ovens in Nepal has also contributed to less import of petroleum products, Khadka said. ■
