Robust growth in remittances: inflows surge by 30.0% to Rs.365.34 bn

Kathmandu: Nepal experiences a substantial increase of 30.0% in remittance inflows, reaching Rs.365.34 billion in the current review period, in contrast to a 16.8% rise in the corresponding period of the previous year.

In US Dollar terms, remittances see a notable 25.9% increase, totaling $2.76 billion, compared to the previous year’s 7.9% growth.

During the review period, 113,397 Nepali workers secure first-time approval for foreign employment, while 49,297 receive approval for renewals.

In the previous year, these numbers stood at 147,932 and 57,861, respectively.

The net transfer records a robust growth of 30.2%, amounting to Rs.404.04 billion during the review period, marking a significant uptick from the 17.1% increase observed in the same period of the previous year.