BoP in surplus; remittance inflows, foreign exchange reserves increase
Summary
Nepal's balance of payments is in surplus with significant growth in remittance inflows and foreign exchange reserves, alongside increased exports and imports in the first five months of fiscal year 2082/83 BS.
Key Points
- Nepal's gross foreign exchange reserves stood at Rs 3201.47 billion, covering 18.2 months of imports.
- The current account and balance of payments recorded surpluses of Rs 358.83 billion and Rs 421.89 billion respectively.
- Remittance inflows increased by 35.6% in NPR terms during the first five months of the fiscal year.
- Exports grew by 58.2% and imports by 15.8%, leading to a 10.5% increase in trade deficit compared to the previous year.
