KATHMANDU, Dec 13: Nepal has seen a significant increase in the amount of money flowing into the country compared to the amount going out.
According to data released by Nepal Rastra Bank (NRB), the Balance of Payments (BoP) was in a surplus of Rs 258.3 billion during the first four months of the current Fiscal Year (FY). In the same period last FY, the surplus stood at Rs 150.24 billion. In terms of US dollars, the balance of payments surplus increased from USD 1.13 billion during the same period last year to USD 1.53 billion in the review period.
Similarly, the current account is in a surplus of Rs 143.42 billion. During the same period last FY, the current account surplus stood at Rs 97.10 billion. In terms of US dollars, the current account surplus increased from USD 736 million during the same period last year to USD 1.6 billion in the review period. During this period, net capital transfer amounted to Rs 2.47 billion, compared to Rs 1.59 billion in the same period last year. Likewise, direct foreign investment inflow reached Rs 5.76 billion during the review period, up from Rs 3.65 billion in the corresponding period of the previous year.
In the first four months of the current FY, total merchandise exports increased by 4.2 percent, reaching Rs 52.67 billion. During the same period last FY, exports had declined by 7.7 percent. Based on destinations, exports to India grew by 8.4 percent, while exports to China and other countries decreased by 18.3 percent and 3 percent, respectively.
Nepal’s BoP surplus nosedived from over Rs 282 billion to Rs 1....
Based on commodities, exports of soybean oil, tea, polyester yarn and thread, particle board, and betel nuts have increased, while exports of palm oil, zinc sheets, ready-made garments, juice, and ginger have decreased.
Similarly, total merchandise imports increased by 0.2 percent, reaching Rs 513.39 billion. In the same period last year, imports had decreased by 3.8 percent. Based on the countries of origin, imports from India and China rose by 0.9 percent and 2.9 percent, respectively, while imports from other countries declined by 5 percent.
By commodity, imports of transportation equipment, vehicles and spare parts, edible oil, sponge iron, garlic, telecommunications equipment, and parts increased. However, imports of petroleum products, gold, crude palm oil, airplane spare parts, and electrical equipment decreased.
On the export front, exports through major customs offices, except Bhairahawa, Biratnagar, Birgunj, Dry Port, Kailali, Krishnanagar, Mechi, Nepalgunj, and Rasuwa, have declined.
On the import side, imports through all major customs offices, except Bhairahawa, Dry Port, Jaleshwar, Kailali, Kanchanpur, Rasuwa, and Tatopani, have decreased.
The total trade deficit for goods decreased by 0.3 percent to Rs 460.72 billion. In the same period last year, the deficit had decreased by 3.3 percent. During the review period, the export-to-import ratio reached 10.3 percent, compared to 9.9 percent in the same period last FY.
Additionally, goods worth Rs 57.24 billion were imported from India using convertible foreign currency during the review period, compared to Rs 53.84 billion in the same period last year.
