KATHMANDU: Nepal received Rs 176.32 billion in remittances during the month of Jestha (mid-May to mid-June) of the current fiscal year 2024/25, marking an increase of nearly Rs 10 billion compared to the previous month of Baisakh, according to data released by Nepal Rastra Bank.
In Baisakh, the country had received Rs 165 billion in remittances.
With the latest inflow, total remittances over the first 10 months of the fiscal year (Shrawan to Jestha) have reached Rs 1.532 trillion — a 15.5% year-on-year growth. During the same period in the previous fiscal year, remittance inflows had increased by 17.2%.
In U.S. dollar terms, Nepal received $11.25 billion in remittances during the 11-month period, reflecting a 12.7% increase compared to the same period last fiscal year. The growth rate was higher at 15.2% in the previous year.
Net secondary income during this period also rose significantly, reaching Rs 1.668 trillion, up from Rs 1.443 trillion in the same period of the previous fiscal year.
Labor migration figures also continued to grow. By the end of Jestha, a total of 452,324 Nepalis received final labor permits for foreign employment, while 308,067 received renewal permits. These numbers are up from 421,356 and 261,210, respectively, during the same period last year.
The sustained increase in remittances remains a key pillar of Nepal’s economy, providing critical support to foreign exchange reserves and household consumption.
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