As the latest reports show, Nepali banks’ lending to the domestic services sector went up 18 percent over the first eight months of the fiscal.

This rise has instilled some positive sentiment among investors looking for investment in tertiary sector in the economy.

According to Nepal Rastra Bank (NRB) reports, the total lending to services sector was found to be NPR 232.51 billion during the first eight months period, showing a rise from NPR 35 billion.

Banking and finance companies’ total outstanding loans to service sector firms during the fiscal was NPR 195 billion, showing a 14 percent year-on-year rise.

Growth in investment to the service sector was majorly attributed to the tourism industry that showed 10.8 percent growth in FY 2018-19.

“You can see a lot of hotels are being constructed, while tourism sector is also buoyant as tourist arrivals are increasing at a record high pace. This will definitely increase the demand for loans from these businesses,” says a bank official.

Hotel industry was another major recipient as a sub-sector under service sector!

Total lending to hotels has reportedly increased by 21.9 percent or NPR 14.81 billion during the review period, and the total outstanding loans to hotel sub-sector was totaled at NPR 82.4 billion.

The lending to tourism industry was totaled NPR 2.6 billion and the total outstanding banking investment stands at NPR 275 million.

Entertainment sector also received some 52 percent hike in lending at NPR 7.96 billion, while it was NPR 41.66 billion for education sector and NPR 30 billion for health sector.

While majority sub-sectors have received hike in their lending year-on-year, advertising sub-sector witnessed a fall of 4.1 percent by receiving just NPR 1.65 billion.

Hope the new discussions on Budget FY 2019-20 and change in policies will add some positives to the other sectors too, giving a due boost to the Nepali economy.

The post Bank Loans to Services Sector On Rise in Nepal, Tourism and Hotel Atop! appeared first on Nepali Sansar.

Here are some key highlights about the budgetary planning for ‘Nepal Federal Budget 2019-20‘:

Budget 2019-20: Government Allocates NPR 1 Bn for Youth Development

In the latest update on the upcoming fiscal budget, the Nepal Government is all preparing to initiate a special youth program worth NPR 1 Bn.

Through this program, Nepali youth can file applications for the required budget for businesses of their interest.

The government has set a budget ceiling of around 1.5 trillion for the upcoming fiscal budget, which will be announced on May 29, 2019. It has allocated a budget of NPR 25. 24 billion for the Ministry of Agriculture and Livestock Development.

NPR 25 Bn for Agriculture

The Ministry of Agriculture, Livestock Development also submitted its budget proposal for the Federal Budget 2019-20. It has submitted NPR 25.24 billion as its planned budget for the FY 2019-20 (2076-77) at the Ministry of Finance.

With this proposal, the Agriculture sector accounts for 1.68 percent of the total national budget for FY 2019-20 if the government closes the budget within NPR 1.5 trillion.

According to Minister Chandrapani Khanal, this budget is only for the agriculture budget at the federal level.

The government has allocated the annual budget of NPR 40.14 billion for the Ministry of Agriculture, Land Management and Cooperatives, for the current fiscal 2018-19.

Infrastructure Eyes NPR 137 billion

With the government preparing for the Federal Budget FY 2019-20, here comes an interesting update about the infrastructure spending in the coming fiscal.

As part of the budgetary planning, the Ministry of Physical Infrastructure and Transport is expecting NPR 135 billion as its budget for the coming fiscal.

With the new projection, Nepal’s infrastructure budget for 2019-20 stands 35 percent more than the allocation made for Budget FY 2018-19.

As the reports say, the Ministry is also thinking of tweaking its budgetary expectations in line with the National Planning Commission’s budgetary ceiling for individual ministries.

The Ministry is also planning to allocate more than NPR 90 billion to the projects drawn from the previous year.

The Ministry’s majority investment is likely to be on road projects in line with the government’s plan for national pride projects.

Allocations for the Postal Highway and the Pushpa Lal Mid-Hill Highway projects are likely to be doubled this year.

Railway projects are also among those set to receive sizable budgets.

Total Planned Budget at NPR 1.5 Tn

As Nepal draws closer to the end of FY 2018-19, the Nepal Ministry of Finance (MoF) has started work for the formulation of upcoming FY 2019-20 federal budget in full swing.

According to MoF Joint Secretary Uttar Kumar Khatri, the Ministry has intensified works for the budget formulation process.

“We are formulating the budget for the upcoming fiscal year within the ceiling and guidance provided by the NPC,” said Khatri, also Finance Ministry Spokesperson.

According to a National Planning Commission (NPC) official, the commission has provided a budget ceiling of around NPR 1.5 trillion for the upcoming fiscal budget.

Now that all the ministries have been informed of the upper ceiling limit, they are working on finalizing their programs and related budgets to be included as part of the new budget.

They will then submit their reports to MoF through the Line Ministry Budget Information System (LMBIS).

Khatri stated that the various committees including MoF’s budget drafting committee and revenue advisory committee are also holding consultations and discussions for the budget.

“The budget drafting will be completed on time and tabled in the parliament as per the constitutional requirement,” Khatri added.

The constitution mandates that the Nepal Government table the bill for the upcoming fiscal year by Jeshta 15, 2076 (May 29, 2019).

Budgetary Execution Remains Challenge

Though MoF has been planning the budget, the management of the Federal Budget for FY 2018-19, especially the spending, has remained weak similar to the previous years.

As per the Financial Comptroller General Office’s data, the capital expenditure progress is only 34.87 percent in the current fiscal. Out of NPR 313.998 billion allocated for capital expenditure, the government spent only NPR 109.49 billion as of April 14, 2019.

Considering the slow spending figure of the first two quarters, MoF lowered the spending projection to 91.2 percent of the total budget introduced in mid-July 2018.

It is noteworthy that the country landed some major developments in the current fiscal despite the underspending in FY 2018-19. This is evident in the formulation and implementation of some important laws and some remarkable achievements for the Himalayan nation.

NPC member Min Bahadur Shahi said that the Government will make time-bound plans for the completion of those development projects moving at snail’s pace.

“We will have result based projects in the budget of the upcoming fiscal year. Based on that system, those ministries who do not have capacity to spend certain percent of the budget will not be allowed to make additional budget demand from the next fiscal year,” added Shahi.

Govt’s Plans for FY 2019-20

Nepal Federal Budget FY 2019-20 will be the second budget of the Nepal Communist Party Government.

While the government has been dealing with underspending, it plans to increase the handouts for elderly citizens from the upcoming fiscal year. This decision was announced by PM Oli on April 14, 2019.

In terms of five-year planning, NPC has projected a planned investment of NPR 9,246 billion for the country’s 15^th Five-year development plan.

The country will spend this amount over the next five years period to achieve a targeted average growth rate of
9.6 percent per annum.

Last year, the Finance Ministry had presented a budget of NPR 1.31 trillion in the Federal Parliament.

Stay Tuned for more fresh updates on ‘Nepal Federal Budget 2019-20’

The post Nepal Federal Budget FY 2019-20: Govt. Begins Budgetary Planning! appeared first on Nepali Sansar.

The Himalayan nation featured in the World Bank’s top 20 remittance recipients in 2018, for inflows.

According to the World Bank data, Nepal received remittance inflows worth USD 8,064 million in 2018, standing at the top 19^th recipient among world nations.

The country registered a 16 percent year-on-year rise in remittance inflows in 2018 compared to USD 6,928 million in 2017.

Remittances in 2018 accounted for 28.0% of the country’s GDP share in 2018, placing the Himalayan nation in the list of the top-5 recipient smaller economies: Tonga, Kyrgyz Republic, Tajikistan and Haiti, in terms of remittance share in GDP.

Read: Nepal Tops 2016 Global Ranking For Remittances by GDP

“In 2018, the top remittance-receiving countries – in dollar terms – are projected to be India, China, the Philippines, Mexico, Egypt, and Nigeria (Figure 1.2). As a share of gross domestic product (GDP), the top recipients are smaller countries: Tonga, Kyrgyz Republic, Tajikistan, Nepal, and Haiti,” the World Bank said in its report.

Top Remittance Receivers in 2018

Nepal saw a gradual rise in remittance inflows in the last decade period from 2008-2018 as follows.

With Nepal in fourth sport, other South Asian nations in the list of remittance inflows include: India (USD 78.6 billion), Pakistan (USD 21 billion), Bangladesh (USD 15.4 billion) and Sri Lanka (USD 7.5 billion).

Remittance Inflows to South Asia Grrew in 2018

India stood as the top recipient followed by China, Mexico, The Philippines and Egypt.

Overall, the remittance flows to South Asia have seen a 12 percent growth in 2018 much ahead of 7 percent in 2017, totaling to around USD 138 billion.

The World Bank report also reported a decline in employment opportunities for South Asian nations in GCC countries in 2017 and 2018.

“Especially in Saudi Arabia, due to nationalization policies, as indicated by lower deployments from India (-12 percent in 2018 Q1–Q3 and -25 percent in 2017), Pakistan (-26 percent during January–August 2018 and 41 percent in 2017), Bangladesh (-25 percent in 2018 Q1–Q3), and Nepal (-5 percent in FY 2016/17),” the report noted.

Nepal also saw a decline in number of migrant labor permits from 0.40 million in FY 2015/16 to 0.38 million in FY 2016/17.

Also Read:

•  Nepal FY 2018-19: Remittance Inflow Rises by 29 Percent, External Sector Takes Dip!

The post Nepal 4th in South Asia for Remittance Inflows in 2018 appeared first on Nepali Sansar.

In its latest South Asia economic outlook report on April 07, 2019, WB noted that Nepal is poised for a 6 percent economic growth rate in FY 2018-19.

“In Nepal, GDP growth is projected to average 6 percent over the medium term. The services sector is forecast to benefit from strong tourism and manufacturing will be supported by the opening of Nepal’s largest cement factory next year,” WB said in its release.

While the growth is expected to be strong in the mid-term, WB said the country will need to consider few risk factors in its way forward.

World Bank’s Risk Factors for Nepal Economy include:

• Constraints in Reform implementation
• Vulnerability to Natural Disasters
• Slow-paced reforms to rise private investment, especially foreign investment
• Resource availability
• Supporting federalism
• Hit to Remittance Inflows
• Sustaining Service delivery
• Credit constraints as banks limit lending to meet the Credit To Core Capital Plus Deposit (CCD) ratio regulatory limit
• Fiscal discipline at the local level

“The poverty outlook is especially sensitive to remittance inflows, natural disasters and local level implementation capacity constraints that may hamper service delivery…”

“The transfer of financial management staff over a year ago made it possible for local governments to prepare budgets and receive fiscal transfers of 8 percent of GDP in FY2018/19. However, under-spending of the budget persists,” WB said in its release.

However, WB economic growth projections for Nepal for FY 2019 are below ADB’s expectations of 6.5 percent, IMF’s 6. 5 percent and the government’s own target of 8 percent.

“In Nepal, GDP growth is projected to average 6 percent over the medium term. The services sector is forecast to benefit from strong tourism, and manufacturing will be supported by the opening of Nepal’s largest cement factory next year,” the report added.

Also Read:

• Foreign Aid to Nepal: World Bank Tops, Govt Eyes Capacity Development
• World Bank Predicts a 5.9% Growth Rate for Nepal in 2019

The post World Bank Cautions Nepali Economy on Key Risk Factors appeared first on Nepali Sansar.

CNI and its organizing partner Bishal Media Group (BMG) announced this in a press meet on
January 24, 2019.

Under the theme ‘Federal Nepal: Opportunities for Investment and Growth’, the organizers aim to promote the entrepreneurship landscape of Nepal through the Summit.

The Summit will identify key areas of focus to promote entrepreneurship and create sustainable and substantial economic drive.

The event also envisages to build a strong network among small, medium and large entrepreneurs boosting them to work for innovative environment in the economy and also address gaps in the existing laws to promote rapidly-evolving business landscape of Nepal.

The Ministry of Finance and Ministry of Industry, Commerce and Supplies are also supporting the Summit that will see President Bidhya Devi Bhandari, Prime Minister Khadga Prasad Oli and Finance Minister Yuba Raj Katiwada as distinguished guests.

Besides, Industry Secretary Yam Kumari Katiwada, Entrepreneur Upendra Mahato and CEO of Nabil Bank Anil Kesari Shah are going to be the key speakers at the event.

As part of the event, government authorities from all the 7 provinces are going to present current scenario of entrepreneurship culture and opportunities in their respective areas.

“This will help the government to formulate necessary policies to encourage entrepreneurship at the local level,” CNI said in a statement.

CNI further informed that the Summit will also be an encouragement to Nepalis working abroad to return home and work for the nation as an entrepreneur.

“Growth of entrepreneurship plays an important role in the economic growth and overall development of the country. Thus, entrepreneurship should be promoted at the local level itself,” says CNI President. 

Nepal Entrepreneurship Summit 2019 Highlights

Session 1: Provinces- Fostering Investment and Job Opportunities
Session 2: Developing Entrepreneurial Ecosystem
Session 3: Bridging the Gap between Idea and Funding
Session 4: Journey to Success – Leading for Change

‘Industrial Excellence Center’ Soon

Speaking on the occasion, CNI President Hari Bhakta Sharma said the confederation is also planning for the establishment of ‘Industrial Excellence Center’ to aid research environment in the country, conduct training programs for entrepreneurs and finally minimize Nepali economy’s dependency on remittances.

“We will aim to solve the issues at hand regarding brain-drain, technical deficiency, social outlook on businesses and entrepreneurs,” says Satis Kumar More, Senior Vice-President of CNI.

President Bhandari Stress on Investment in Nepali Youth

The much-discussed Entrepreneurship Summit unfolded on February 14, 2019 in Kathmandu, Nepal.

A number of government officials, youth entrepreneurs, industry leaders and venture capitalists from Nepal, India, China and Singapore among others attended the summit.

Nepal President Bidya Devi Bhandari inaugurated the summit aiming to create networking platform for start-ups and small and large scale enterprises, promote new talents, technology and innovation alongside entrepreneurship and building a conductive business environment for operation.

Speaking at the occasion President Bhandari said that Nepal should promote entrepreneurship to create employment opportunities within the country so that a lot of Nepalis don’t be dependent on jobs abroad.

A total of 358, 815 Nepalis left the country for foreign employment in the last fiscal year 2017-18!

Furthermore, 113, 390 Nepali already left for employment abroad in the first six months of the current fiscal year as per statistics from the Department of Foreign Employment.

The President also emphasized on investing in youth with fresh ideas, building an investment friendly environment, promoting vocational education and training to promote entrepreneurship in Nepal.

Engage Nepali Youth to Address Trade Deficit: Bhandari

Directing attention to the country’s increasing trade deficit that has majorly affected Nepal’s foreign exchange reserve, she underscored the promotion of exports using domestic resources and Nepali youth’s skill.

Nepal Minister for Industry Commerce and Supply Matrika Prasad Yadav said that Nepali government was dedicated towards creating an investment friendly environment to encourage domestic production and boost exports.

“We are amending a number laws and policies to promote investment,” Prasad said during the inauguration session of the summit.

The day-long event covered talks by start-ups and venture capitalists and special talks by entrepreneurs from the various countries, start-up show cases and exhibition, networking sessions and workshops.,

Also Read:

• Start-up, SME Business Trend Take-off in Nepal

The post Nepal Entrepreneurship Summit 2019 for Sustainable Economy appeared first on Nepali Sansar.

In its new decision, the government has set a limit for withdrawals made on Nepali debit or credit cards in India.

The Nepal Rastra Bank (NRB), in its notification on December 25, 2018, has set NPR 1 lakh per month limit for almost all payments directly or part of rendering services in India.

However, the new rule exempts transactions involving hotel bills, hospitals and pharmaceutical stores.

The Central Bank considered this as a move to curtail cash spending on unproductive purchases in India, which are usually made on Point of Sale (POS) systems.

The new policy that applies to all payments on goods and services was reportedly implemented to tackle Nepal’s widening current account deficit and covers all types of prepaid, credit and debit cards of all Nepali banks.

The new decision has been taken to address the growing current account deficit and the balance of payment crisis, says Central Bank Spokesperson Narayan Prasad Paudel.

Paudel further added that Nepal continues to handle demonetization after-effects and is waiting for India’s response on demonetized Indian currency notes.

The new policy is coming exactly two weeks after Nepal Government announced complete ban on high-value Indian currency notes on account of demonetization.

What Economists Say?
Senior Nepali economists opine that the new policy is the result of India’s demonetization effect on Nepal and is coming after a series of issues following the announcement of demonetization in 2016.

Kathmandu-based Achyut Wagle says that the demonetization policy has sent negative signals to Nepalis and Kathmandu is now taking measures to secure itself from any similar moves from India in the future.

Wagle says that the new decision also echoes Nepal Government’s readiness to stay prepared to similar situations in the future.

“India’s demonetization affected Nepal negatively and has been criticized in recent months. Tuesday’s decision is an independent move by Nepal and our government decided to go ahead without really holding consultation with India,” reads Wagle’s statement.

“The last time India went for demonetization we were left holding huge amount of Indian currency that has not been exchanged so far by Delhi. So, this time we are trying to minimize the risks in advance just in case India plans to repeat a similar exercise as there are continuous rumors in the Nepali bazaar about one more possible demonetization by Mr. Modi,” Wagle added.

Besides affecting spending patterns, the new policy is also expected to impact trade-related business across the Indo-Nepal border areas, where Nepali businessmen usually transact in Indian currency.

The post After Currency Ban, Nepal Limits INR Spending in India appeared first on Nepali Sansar.

In its latest update, IMF revised Nepal’s economic growth to 6.5 percent in the current fiscal i.e. more than what it said in its last review. The earlier IMF projections in its World Economic Outlook report show only 5 percent growth for Nepali economy.

“Following a prolonged period of subdued growth, economic activities in Nepal have picked up in recent years. Supported by greater political stability and reliable supply of electricity, the growth is expected to reach 6.5 per cent in 2018-19, on expanding post-earthquake reconstruction activity, services and manufacturing,” reads a statement in the Article IV Consultation Report of IMF released on December 13, 2018.

An IMF team led by Geert Almekinders visited Nepal on December 2, 2018 for discussions on the 2018 Article IV consultation.

The new outlook recommended Nepal to balance its economic growth trajectory, alongside keeping a close watch on the rising fiscal and current deficits that increased outflow of foreign reserves.

IMF also recommends tight policy measures to keep up with the current economic scenario, deal with the internal & external pressure and achieve a durable economic expansion; it suggests higher interest rates, smaller fiscal deficit and tighter macro-prudential policies (than the budgeted).

It also cautions the government to ensure that the general budget won’t increase further in the process of implementing fiscal federalism.

Lauding the government for its efforts towards taxation and consolidation of expenditure through the Public Expenditure Review Commission, IMF suggests to slow-down on distribution of resources and responsibilities to the provinces and state governments.

IMF urged the government to also control the credit growth stating, “while credit growth has helped spur growth over the past several years, high pace of expansion raises stability concerns,” and also suggested to deny any measures that cause credit rise.

The post IMF Revises Nepal’s Economic Growth Trend, Says Positive! appeared first on Nepali Sansar.

As the reports say, Nepali banks are facing serious liquidity crunch over the last few weeks, stopping them from offering business loans to enterprises.

According to local bankers, the cash crunch is majorly due to high expenditure in the early months of the current fiscal compared to revenue earnings. This is stopping many banks from meeting local businesses’ credit requirements.

“There is a lot of demand for loans due to boost in business confidence as Nepal has a stable government after the three-tier elections in 2017. But, we are facing difficulty to lend to the enterprises as per their demands due to lack of adequate fund,” NMB Bank CEO Sunil K.C said on November 26, 2018.

According to Nepal Bankers’ Association, deposits in the commercial banks grew by only 3.7 percent compared to lending that saw 7.7 percent rise, leading to credit expansion in line with the regulatory limit.

While the banks are supposed to maintain 80 percent Core Capital combined with Credit To Deposit (CCD) ratio, the number stands at 78 percent giving only 2 percent scope for further lending, informed Nepal Rastra Bank (NRB).

“It means, if a large-scale withdrawal of deposit takes place, the banks will no longer be in the position to lend further,” says Ashoke Rana, CEO of Nepal’s leading commercial bank, Himalayan Bank.

While the government is looking at an 8 percent economic growth target, bankers opine that the continuation of liquidity crunch will hurt the growth of overall economy in the days to come.

“But, the extent of impact would depend on whether credits have been extended to the productive sector,” says Nara Bahadur Thapa, Executive Director of NRB.

Addressing Nepal Cash Crunch
Addressing the concern to some extent, NRB offered banks the flexibility to lend more by garnering loans from international institutions up to 50 percent of their core capital.

Himalayan Bank has recently taken USD 15 million loan from the International Finance Corporation(IFC). “We have also initiated the process of borrowing another USD 15 million from a British financial institution. Once we get this fund from abroad, it will help ease liquidity in our bank,” adds Sunil.

According to bankers, the recovery can happen if government spending can increase in the months to come driving more revenues to the treasury and further to banks.

Cash crunch is a common trend for Nepali banks usually in the last months of the financial year.

The post Nepali Banks Face Cash Crunch, Limit Loan Offering appeared first on Nepali Sansar.

In an encouraging move, the government honored the country’s highest taxpayers including top companies in 15 different categories, at a program held by the Inland Revenue Department.

Officials feel that the move will promote tax-paying culture in Nepal.

Nepal-based MNC Surya Nepal emerged as the highest taxpayer even this time, leaving its mark for the third time in tax-paying to the Nepal Government.

Siddhartha Shumsher grabbed the recognition in the ‘individual category’ as the top taxpayer, continuing journey as the ‘top taxpayer’ for the sixth consecutive year.

Dabur Nepal, Himal Power Ltd, Agriculture and Livestock Probiotic Industry, the Chhimek Cooperatives, Nabil Bank, Nepal Punarbeema (Re-Insurance) Company, Nobel Medical College, F1 Soft Information and Taragaon Regency Hotel are among others in the list.

Non-payment Tax Hindrance to Growth

Addressing the event, Finance Minister Yuba Raj Khatiwada urged every Nepali citizen to be liable for voluntary tax-payment depending on their level of income and ensure timely payments.

Stating that every lowest taxpayer is also a respectable tax-payer, the Minister said that the non-payment of taxes will hinder the country’s growth progress. In this regard, he also informed that the government is working towards manage taxation system alongside focusing on increasing the scope of taxation rather than tax rates.

Meanwhile, Finance Secretary Rajan Khanal also informed that the government’s efforts on tax reforms have received some benefits over the benefits.

The government has also recently set-up a tax consultation department to address public concerns about taxation.

What Industry Said?

Speaking on the occasion, industry bodies urged the government to ensure a business-friendly environment in the country.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhawani Rana, Confederation of Nepalese Industries (CNI) chair Hari Bhakta Sharma and President of Nepal Chambers of Commerce Rajesh Kaji Shrestha were among key delegates present at the event.

They urged the government to ensure a conducive investment-friendly environment in the industrial sector and also facilitate the industry-friendly taxation system.

In this regard, the Nepali business community expressed their willingness to work with the government with regard to taxation and related payments.

Director General of the Inland Revenue Department Bishnu Prasad Nepal informed that the Department is working with government on economic and revenue mobilization policies.

We are also working on ways to raise awareness among tax-payers besides and have been providing needed concessions that encourage tax-payers.

Hope the constructive and collaborative efforts of the public-industry-government would drive the budget promises, driving the Nepali economy towards a structured growth.

The post Nepal Tax Day 2018: Highest Tax-payers Honored, Key Tax Reforms Underway! appeared first on Nepali Sansar.

While it’s evident that the Himalayan nation has high trade deficit with its neighboring nations, recent reports confirm that the case happens to be the same for the country even with many other countries, globally.

Recent statistics by Nepal Department of Customs confirmed that out of 140 nations that Nepal has trade relations with, the Himalayan nation is enjoying trade surplus with only 28 and is facing a widening deficit with other 112 countries.

Out of the country’s total gross trade deficit of over Rs 222.9 billion, the highest volume was found with neighboring India and China, followed by France.

Over the last three months, Nepal made close to Rs 249 billion trade with India with Rs 236.1 billion in imports and Rs 13.16 billion in exports.

Whereas, it was Rs 53.11 billion in imports and Rs 560.4 million in exports in its trade with China.

When it comes to France, the statistics show Rs 14.26 billion in imports and Rs 352.2 million in exports.

Likewise, Nepal is facing a negative balance of trade with other countries such as UAE, Thailand, Switzerland, Indonesia, Canada, Malaysia, Argentina, Ukraine, Saudi Arabia, South Africa, Italy, Vietnam, South Korea, Australia, Turkmenistan, Taiwan, Japan, Singapore and Hong Kong, among others.

On the positive side, the Himalayan nation is enjoying surplus in trade with US, where exports were found exceeding imports resulting in Rs 668.3 million in profits for Nepal for trade worth Rs 3.19 billion.

Other countries that showed positive trend for Nepal trade include Finland, Austria, Maldives, Norway, Estonia, Afghanistan, Morocco, El Salvador, Uruguay, Lebanon and Cyprus.

Also Read:

• Nepal Scales Up in Global Logistic Performance Index 2018
• Growing Expenditures & Nepal’s Economic Status: An Analysis
• Gold Imports Trigger Concern Over Trade Deficit
• Birgunj – Trade Gateway to Nepal
• Bharatpur: Nepal’s Center of Trade
• Alerts on Trade, Human Rights and Security

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