Kathmandu. Current fiscal year 2082. As of 8 months of March 2018, 1.4 trillion remittances have entered the country.
According to the latest economic and financial situation of the country released by the Nepal Rastra Bank (NRB) today, the remittance inflow has increased by 37.7 per cent and reached Rs 1,449.65 billion. The remittance inflow had grown by 9.5 per cent in the same period of the previous year.
Similarly, Rs 188.64 billion has been remitted in the month of March. In the same month of the previous year, Rs. 151.19 billion had entered the country.
Other economic and financial indicators
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The year-on-year consumer price inflation stood at 3.62 percent in February 2022. It had decreased to 3.75 per cent in the corresponding month of the previous year. In the review month, food and beverages inflation stood at 3.60 percent and non-food and service inflation stood at 3.63 percent.
In the first eight months of the current fiscal year, merchandise exports increased by 20.8 percent to Rs 191.11 billion. Such exports had increased by 57.2 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 25.3 percent and 7.8 percent respectively whereas exports to China decreased 53.7 percent in the review period.
In the review period, the total merchandise import increased by 12.5 percent to reach Rs 1,289.25 billion. Such imports had increased by 11.2 percent in the same period of the previous year. Destination-wise, imports from India, China and other countries increased 5.1 percent, 21.2 percent and 26.0 percent respectively.
The total merchandise trade deficit increased by 11.2 percent to Rs 1098.14 billion in the first six months of the current fiscal year. Such deficit had increased by 9.2 per cent the year before that. In the review period, the export-import ratio reached 14.8 percent.
In the review period, the current account surplus stood at Rs 552.85 billion. In the same period of the previous year, the current account had surplus of Rs 197.03 billion. In US dollars, the current account had surplus of Rs 3.88 billion in the review period of the previous year, compared to Rs 1.46 billion in the same period of the previous year.
In the review period, the balance of payment stood at Rs 658.35 billion. The balance of payment was Rs. 310.37 billion in the same period of the previous year.
The total foreign exchange reserves increased by 27.5 percent to Rs. 3.413 billion as of mid-March 2082 from Rs. 2677.68 billion in mid-July 2082.
Based on imports up to eight months of the fiscal year, the foreign exchange reserve with the banking sector is sufficient to sustain the import of goods for 21.4 months and goods and services for 18.5 months.
