KATHMANDU: Remittance inflows have risen by 4.1 percent, totaling Rs.763.08 billion during the past six months.

This growth contrasts with a 22.2 percent increase recorded in the same period last year.

The data was shared by Nepal Rastra Bank (NRB) in its report, Current Macroeconomic and Financial Situation of Nepal, which covers the six-month period ending mid-January 2024/25.

In US Dollar terms, remittance inflows grew by 1.1 percent, totaling $5.58 billion in the review period, a decrease from last year’s 19.5 percent growth during the same period.

Net secondary income (net transfer) amounted to Rs.832.76 billion, up from Rs.799.54 billion in the previous year’s review period.

The number of Nepali workers—both institutional and individual—receiving first-time approval for foreign employment reached 230,439, while 162,628 received approval for re-entry.

These numbers were 206,390 and 133,940, respectively, during the same period last year.

Services Sector
Net services income remained in deficit, amounting to Rs.43.53 billion in the review period, compared to a deficit of Rs.35.43 billion in the same period last year.

Under the services account, travel income rose by 5.1 percent, reaching Rs.41.86 billion, up from Rs.39.82 billion in the previous year.

However, travel payments increased by 9.7 percent to Rs.101.92 billion, with Rs.56.83 billion allocated for education expenses.

In the previous year, such payments were Rs.92.87 billion and Rs.58.95 billion, respectively, as noted in the NRB report.