Nepali living abroad sent five hundred fifty-three billion in three months

Kathmandu — According to the first quarter macroeconomic review of Nepal Rastra Bank (NRB), remittance inflows surged by 35.4% in the first three months of the current fiscal year, reaching Rs 553.31 billion.

In contrast, during the same period last year, remittance growth stood at only 11.9%, with total inflows of around Rs 408.77 billion.

Breaking it down monthly: in the first month, remittance inflows amounted to Rs 177.41 billion — a growth of 29.9%.

Besides remittance, export of goods also saw a strong jump — up by 89.6% to Rs 72.78 billion in the quarter, while imports rose 19.8% to Rs 468.08 billion. However, because imports outpaced exports, the trade deficit surged to Rs 395.30 billion.

Thanks to high remittance inflows, Nepal registered a substantial current account surplus of Rs 237.59 billion, and overall balance of payments surplus stood at Rs 264.03 billion.