Kathmandu. The country’s economic indicators are getting stronger. Remittances have increased and inflation has fallen. The import-export situation is also satisfactory.
Nepal Rastra Bank (NRB) has released the current fiscal year 2082. This is according to the report on the current economic situation of the country in the first three months of September. Let’s look at the current economic situation of the country from the main indicators:
Inflation
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The year-on-year consumer price inflation stood at 1.47 percent in September 2022. In the corresponding month of the previous year, it was 4.82 percent. In the review month, the inflation of food and beverages group was negative by 2.54 percent and that of non-food and service group was 3.80 percent. In the corresponding period of the previous year, inflation of these groups was 7.20 percent and 3.49 percent, respectively.
Import–Export
FY 2082. In the first three months of 2018, the total merchandise exports increased by 89.6 percent to Rs. 72.78 billion. Such relentless exports had decreased by 6.1 percent in the same period of the previous year. Destination-wise, exports to India and other countries increased 137.9 percent and 3.8 percent respectively while exports to China decreased 66.1 percent in the review period.
FY 2082. Total merchandise imports increased by 19.8 percent in the first three months of 2018-19. It has reached Rs 468.08 billion. Such imports had decreased by 4.2 percent in the same period of the previous year. Destination-wise, imports from India, China and other countries increased 7.5 percent, 33.4 percent and 46.5 percent respectively.
FY 2082. The total merchandise trade deficit increased by 12.2 percent to Rs. It has reached Rs 395.30 billion. Such deficit had been reduced by 4.0 per cent the year before that.
The export-import ratio reached 15.5 percent in the review period. The same had decreased by 9.3 per cent the year before that.
Remittances)
FY 2082. In the first three months of ’83, the remittance inflow increased by 35.4 percent to Rs. It has reached Rs 553.31 billion. The remittance inflow had grown by 11.9 per cent in the same period of the previous year. Remittance inflow for the month of September 2082 was Rs. 201.22 billion. In the same month of the previous year, the remittance inflow was Rs. It was Rs 144.17 billion.
Current Account & Balance of Payment Status
During the review period, the current account stood at Rs. It has surplus of Rs 237.59 billion. In the same period of the previous year, the current account was Rs. There was a surplus of Rs 115.36 billion. In US dollars, the current account surplus was Rs 1.69 billion compared to Rs 860 million in the same period of the previous year.
During the review period, the balance of payment was Rs. There is a surplus of Rs 264.03 billion. In the same period of the previous year, the balance of payment was Rs. There was a surplus of Rs 184.99 billion. Such savings were Rs. 1.88 billion in the same period of the previous year compared to Rs. 1.88 billion in the same period of the previous year.
Foreign Exchange Reserves
Rs. 2082 The total foreign exchange reserves increased by 11.3 percent to Rs. 2677.68 billion as of mid-October 2022. It has reached Rs 2979.81 billion. Such reserves in US Dollars have increased by 8.7 percent from Rs. 19.50 billion in mid-July 2082 to Rs. 21.21 billion as of mid-July 2082.
FY 2082. Based on the imports up to the third month of 2018, the foreign exchange reserve with the banking sector is sufficient to sustain the import of goods for 19.9 months and goods and services for 16.4 months.
