Remittance Inflows Surge by 19.2%, Labor Migration Approvals on the Rise

Kathmandu – Nepal witnessed a significant rise in remittance inflows during FY 2024/25 (Nepali FY 2081/82). According to Nepal Rastra Bank, remittance inflows increased by 19.2%, reaching Rs. 1.72 trillion. In the previous year, the growth rate had been 16.5%.

In Ashad 2082 alone, remittance inflows amounted to Rs. 189.11 billion, compared to Rs. 117.78 billion in the same month of the previous year.

Growth in USD Terms

Measured in U.S. dollars, remittance inflows grew by 16.3%, reaching USD 12.64 billion during the review year. In the previous fiscal year, the growth rate had stood at 14.5%.

Net Secondary Income (Net Transfers)

Net secondary income (net transfers) also increased, reaching Rs. 1.87 trillion, compared to Rs. 1.57 trillion in the previous year.

Foreign Employment Approvals

The number of Nepalis obtaining labor permits for foreign employment also surged. A total of 505,957 workers received new labor permits, while 333,309 workers renewed their permits. In comparison, the figures in the previous year were 460,102 (new) and 281,195 (renewals).

The data highlights that remittances continue to serve as a vital pillar of Nepal’s economy. The rise in labor approvals suggests that remittance inflows are likely to remain strong in the coming years. However, experts caution that reducing dependency on foreign employment and strengthening domestic production capacity will be crucial for long-term economic sustainability.