Remittance Worth Rs. 1051.77 Billion Received in 8 Months
April 10, 2025 | Investopaper
Remittance inflows increased 9.4 percent to Rs.1051.77 billion in the first eight months of the current fiscal year 2024/25 as compared to an increase of 18.3 percent in the same period of the previous year. In US dollar terms, remittance inflows increased 6.9 percent to 7.74 billion in the review period compared to an increase of 16.1 percent in the same period of the previous year.
Similarly, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stands at 317,068, and taking approval for renew entry stands at 217,403. In the previous year, such numbers were 285,352 and 182,783 respectively
Likewise, the net secondary income (net transfer) reached Rs.1148.12 billion in the review period compared to Rs.1041.99 billion in the same period of the previous year.
Remittance Inflows In 2023/24
Remittance inflows increased 16.5 percent to Rs.1445.32 billion during 2023/24 compared to an increase of 23.2 percent in the previous year. In the US Dollar terms, remittance inflows increased 14.5 percent to 10.86 billion in the review year compared to an increase of 13.9 percent in the previous year.
Similarly, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stands at 460,103 and taking approval for renew entry stands at 281,199. In the previous year, such numbers were 497,704 and 277,272 respectively. Likewise, the net transfer increased 14.7 percent to Rs.1571.24 billion in the review year. Such transfer had increased 22.5 percent in the previous year.
Remittance Inflows In 2022/23
In the last fiscal year 2022/23, the remittance inflows had increased 21.2 percent to Rs.1220.56 billion compared to an increase of 4.8 percent in the previous year. In the US Dollar terms, remittance inflows increased 12.1 percent to 9.33 billion in the review year compared to an increase of 2.2 percent in the previous year.
Similarly, the number of Nepali workers (institutional and individual-new) taking approval for foreign employment increased 40.3 percent to 497,704 in the review year. It had increased 392.0 percent in the previous year. The number of Nepali workers (Renew entry) taking approval for foreign employment decreased 1.8 percent to 277,272 in the review year. It had increased 198.5 percent in the previous year. Likewise, the net transfer increased 20.6 percent to Rs.1348.48 billion in the review year. Such a transfer had increased 4.3 percent in the previous year.
Remittance Inflows In 2021/22
In the fiscal year 2021/22, the remittance inflows had increased 4.8 percent to Rs.1007.31 billion as compared to 9.8 percent in the previous year. In the US Dollar terms, remittance inflows increased 2.2 percent to 8.33 billion against an increase of 8.2 percent in the previous year.
Similarly, the number of Nepali workers (institutional and individual-new and legalized) taking approval for foreign employment increased significantly to 354,660 in the fiscal year 2021/22. It had decreased 62.8 percent in the previous year. The number of Nepali workers (Renew entry) taking approval for foreign employment increased 198.5 percent to 282,453. It had decreased 46.8 percent in the previous year. Likewise, the net transfer increased 4.3 percent to Rs.1117.88 billion in the year 2021/22. Such a transfer had increased 9.1 percent in the previous year.
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