Remittance Surges Nearly 30% in Shrawan, Labor Approvals Also Rise

Nepal witnessed a significant rise in remittance inflows in the first month of FY 2082/83, providing a strong cushion for the economy. According to Nepal Rastra Bank, remittance inflows surged by 29.9 percent to NPR 177.41 billion in Shrawan, compared to NPR 136.60 billion during the same period last year, when the growth rate was only 17.7 percent.

In US dollar terms as well, remittance income recorded impressive growth. Remittance inflows rose by 25 percent to USD 1.27 billion during the review month. In contrast, the same period last year had seen only a 15.8 percent rise. This indicates both higher amounts being sent by migrant workers and stronger inflows in foreign currency terms.

The country’s net secondary income (net transfers) reached NPR 193.85 billion in Shrawan, up from NPR 148.08 billion in the same month last year. The increase reflects higher remittances along with other foreign transfers.

Labor migration approvals also rose. During the review period, 44,466 Nepalis received final labor approvals (institutional and individual-new), up from 36,928 in the same month last year.
Similarly, 23,644 Nepalis renewed their labor approvals, compared to 22,647 last year. This shows that both new and returning migrant worker numbers have increased, underscoring the continued reliance on foreign employment.

Economists say the nearly 30 percent jump in remittances is a major relief for Nepal’s economy, helping maintain foreign exchange reserves and supporting domestic consumption.
However, the continued rise in labor approvals signals Nepal’s dependence on foreign employment due to limited job opportunities at home. Experts warn that while remittances provide short-term stability, reducing overreliance on them and creating sustainable employment within the country should be a long-term priority.