According to the Nepal Rastra Bank’s (NRB) data, Nepal received a total of NPR 304.97 billion in remittance in the first four months of the current FY 2020 (2076/77).
NRB’s report shows that the Gulf countries are the main source of remittance to Nepal, accounting to over 50% of the total remittance.
India, Malaysia, the USA, Japan and South Korea are the other major remittance sending nations.
However, remittance from Malaysia has decreased in the review period as the Nepali nationals were not allowed to fly to Malaysia during last FY 2019.
|Qatar||NPR 53.93 billion||17.7%|
|India||NPR 43.16 billion||14.2%|
|UAE||NPR 40.87 billion||13.4%|
|Saudi Arabia||NPR 38.15 billion||12.5%|
|Malaysia||NPR 29.66 billion||9.7%|
|USA||NPR 25.42 billion||8.3%|
|Japan||NPR 22.87 billion||7.5%|
|Kuwait||NPR 11.52 billion||3.8%|
|Bahrain||NPR 8.79 billion||2.8%|
|South Korea||NPR 6.15 billion||2%|
|UK||NPR 5.04 billion||1.7%|
|Australia||NPR 1.34 billion||0.4%|
According to the report, the remittance was sent by all levels of Nepali workers in around 172 countries across the world.
Around 26,100 migrant workers went to UAE, 15,593 to Saudi Arabia, 12,274 to Qatar and 9,993 to Malaysia in the first four months of the current FY 2020.
Nepal has signed a bilateral labor agreement with eight countries including Qatar, UAE, Japan, South Korea, Bahrain, Israel, Jordan and Malaysia.
Apart from impacting the Nepali tourism sector, the coronavirus (COVID-19) epidemic threatens to push the timeline…Read more