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  • Writer's pictureIAMTN

The total remittance received by Nepal contributed to 29 percent of the country’s GDP

Nepal Rastra Bank’s (NRB) recent report has positioned Nepal in better light in terms of remittance received throughout FY 2075-76 (2018-19).

The Nepal Government has permitted its migrant workers to travel for foreign employment in as many as 172 countries. This is important to note, especially that the Nepal Rastra Bank (NRB) in its recently published report stated that it received remittances from 189 nations.

Moreover, if the migrant workers wish to go to other countries besides the enlisted ones then the government does not provide permits for the same.

Despite this mandate, Nepali migrant workers are employed in more than 189 countries and the Himalayan nation received remittances from 17 new job destinations, including Antigua, Barbuda, Bosnia, Burundi, Cuba, Curacao, Falkland Islands, Grenada, Guam, Guyana, Haiti, Herzegovina, Iran, Sierra Islands and Solomon Islands.

This trend is being observed for a last couple of years, leading to a gradual growth in Nepal’s remittances from some new countries.

According to NRB’s data, Nepal received a total of NPR 784 billion in remittance from as many as 189 countries in FY 2075-76, an increase of NPR 8 billion from around NPR 776 billion in FY 2074-75.

In FY 2070-71, the total remittance received by Nepal was NPR 543 billion, which increased significantly by NPR 200 billion (33.9 percent) in FY 2075-76 to NPR 783 billion.

The following table depicts the amount of remittance Nepal received from various countries:

Country Remittance

India NPR 93 billion

Saudi Arabia NPR 89 billion

UAE NPR 85 billion

Malaysia NPR 74 billion

Japan NPR 67 billion

Romania NPR 56 billion

South Korea NPR 33 billion

Bahrain NPR 24 billion

Qatar NPR 19 billion

Kuwait NPR 15 billion

Australia NPR 11 billion

United Kingdom NPR 10 billion

Oman NPR 5 billion

Total Remittance to Nepal Over the Last Five Years FY 2070-76

Fiscal Year Remittance

2070-71 NPR 543 billion

2071-72 NPR 617 billion

2072-73 NPR 665 billion

2073-74 NPR 695 billion

2074-75 NPR 776 billion

2075-76 NPR 783 billion

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