Kathmandu: Remittance inflows into Nepal have reached an unprecedented milestone, crossing the Rs 1.9 trillion mark within the first ten months of the current fiscal year 2025/26.
According to the latest macroeconomic report released by Nepal Rastra Bank, remittance grew by a staggering 41.2 percent, totalling 19.169 trillion NPR by mid-May. This massive surge underscores the increasing reliance of the national economy on the earnings of Nepali workers stationed abroad, with growth rates significantly outperforming those of previous years.
The month of Baishakh (mid-April to mid-May) alone witnessed a historic influx of Rs 257.49 billion, setting a new record for the highest amount of remittance ever received in a single month. This figure represents a sharp jump from the Rs 165.30 billion received during the same month last year. The growth is equally robust when measured in US dollars, with inflows increasing by 33 percent to reach US$ 13.26 billion. This is a significant acceleration compared to the 10.6 percent growth recorded in dollar terms during the same period of the previous fiscal year.
Furthermore, the country’s net secondary income, which primarily includes net transfers, has also seen a substantial rise, reaching Rs 20.918 trillion by the end of the tenth month. This is a considerable increase from the Rs 14.802 trillion recorded during the corresponding period last year, indicating a broader strengthening of external transfer receipts. These figures suggest that despite global economic shifts, the flow of funds from the diaspora remains a resilient and dominant component of Nepal’s financial stability.
Interestingly, the surge in monetary value comes at a time when the number of Nepalis seeking new labour approvals for foreign employment has seen a decline. Data shows that 335,510 individuals obtained new institutional or personal labour permits during the review period, down from 405,610 in the previous year. However, this decline in new departures is partially offset by a rising trend in migrants renewing their contracts. The number of individuals seeking renewed labour approvals increased to 326,364, up from 280,314 a year ago, suggesting that a larger number of experienced workers are opting to extend their overseas employment.
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