Nepal registered a total of NPR 515.55 billion in remittances during the first seven months of the current fiscal 2018-19!<\/p>\n
As per Nepal Rastra Bank\u2019s (NRB) report titled Current Macroeconomic and Financial Situation of Nepal, <\/em>the remittances inflow increased by 28.5 percent in the review period compared to an increase of 1.7 percent in the same period during 2017-18.<\/p>\n Surprisingly, despite a significant decline in the number of workers applying for work permits in recent months, the total amount of money transfers made by Nepali communities abroad has gone up noticeably.<\/p>\n The number of Nepali migrants travelling abroad decreased by 39.2 percent in the review period, while it went down only by 4.9 percent in the same period, last year.<\/p>\n Experts opine that the following factors have led to the rise in Nepal\u2019s remittance inflow:<\/strong><\/p>\n <\/p>\n Meanwhile, the NRB report also states that the country\u2019s external sector continues to disintegrate. The total trade deficit<\/a> increased by 27.1 percent to NPR 780.19 billion in the first seven months of 2018-19.<\/p>\n Likewise, the export-import ratio<\/strong> also declined to 6.4 percent in 2018-19 from 7.2 percent in the same period during the previous fiscal. The current account registered a deficit of NPR 166.24 billion in the review period. In comparison, the previous year displayed a deficit of NPR 142.09 billion.<\/p>\n The overall balance of payments <\/strong>(BoP) showed a deficit of NPR 49.32 billion in the review period compared to NPR 18.28 million in the review period during 2017-18.<\/p>\n\n
Nepal External Sector Performance<\/strong><\/h3>\n