Nepal Rastra Bank (NRB) reported that remittance inflows increased by 4.1% to Rs. 763.08 billion during the six months ending mid-January of the fiscal year 2024/25. In comparison, the same period last year saw a significant 22.2% rise.

In US dollar terms, remittance inflows amounted to $5.58 billion, marking a modest 1.1% increase, down from a 19.5% rise in the previous year.

According to the report titled Current Macroeconomic and Financial Situation of Nepal, net secondary income (net transfer) climbed to Rs. 832.76 billion, up from Rs. 799.54 billion during the same period last year.

The number of Nepali workers taking first-time approvals for foreign employment stood at 230,439, while 162,628 workers received re-entry approvals. These figures marked an increase from the previous year, when first-time and re-entry approvals were 206,390 and 133,940, respectively.

NRB highlighted a deficit of Rs. 43.53 billion in net services income during the review period, widening from Rs. 35.43 billion in the previous year.

Travel income rose by 5.1% to Rs. 41.86 billion compared to Rs. 39.82 billion in the previous period. However, travel-related payments surged by 9.7% to Rs. 101.92 billion, with Rs. 56.83 billion allocated for education expenses. In the corresponding period last year, travel payments stood at Rs. 92.87 billion, including Rs. 58.95 billion for education.

The report sheds light on key financial and employment dynamics, indicating a moderate but steady flow of remittance and an evolving services landscape.