KATHMANDU: Nepal Rastra Bank, the central bank of Nepal, has released the macroeconomic and financial overview for the first four months of fiscal year 2024/25, based on available data.
According to the Bank, the inflation remained at 5.60% year-on-year (y-o-y).
Similarly, the country’s foreign exchange reserves amounted to USD 16.70 billion, which can cover imports for approximately 15.1 months.
Merchandise exports grew by 4.2%, while imports rose slightly by 0.2%, according to the Bank.
Meanwhile, the NEPSE index stood at 2742.89 in mid-October 2024, a notable increase from 1864.62 in mid-October 2023.
According to the NBR’s overview, consumer price inflation stood at 5.60% y-o-y in mid-November 2024, up from 5.38% in the same period the previous year.
Wholesale price inflation rose to 5.16% y-o-y, compared to 2.09% in the previous year, it said adding that the wholesale prices of consumption goods, intermediate goods, and capital goods increased by 9.02%, 3.39%, and 2.86%, respectively.
In contrast, construction materials saw a 4.62% decrease in wholesale prices.
Meanwhile, merchandise exports reached Rs. 52.67 billion in the first four months of 2024/25, a 4.2% increase from the same period last year when exports had fallen by 7.7%.
Exports to India grew by 8.4%, while exports to China and other countries declined by 18.3% and 3.0%, respectively.
Key export items like soybean oil, tea, polyester yarn, and oil cakes saw increases, while palm oil, zinc sheets, and ready-made garments experienced a decrease, it said.
Meanwhile, merchandise imports grew slightly by 0.2%, totaling Rs. 513.39 billion, after a 3.8% decline in the previous year.
Imports from India and China increased by 0.9% and 2.9%, respectively, while imports from other countries dropped by 5.0%.
Key imports like transport equipment, edible oil, and spare parts saw an increase, while petroleum products, gold, and crude palm oil saw a decrease.
On the other hand, the trade deficit narrowed by 0.3% to Rs. 460.72 billion, following a 3.3% decrease in the same period of the previous year.
The export-to-import ratio improved slightly to 10.3%, up from 9.9% in the same period last year.
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