Gulf countries are the main source of remittance to Nepal - South Asia Time

Gulf countries are the main source of remittance to Nepal

 February 29, 2020  

Kathmandu — According to the Nepal Rastra Bank’s (NRB) data, Nepal received a total of NPR 304.97 billion in remittance in the first four months of the current FY 2020 (2076/77).

NRB’s report shows that the Gulf countries are the main source of remittance to Nepal, accounting to over 50% of the total remittance.

India, Malaysia, the USA, Japan and South Korea are the other major remittance sending nations.

However, remittance from Malaysia has decreased in the review period as the Nepali nationals were not allowed to fly to Malaysia during last FY 2019.

Nepal Remittance from various countries:

Country  Amount  Share
Qatar NPR 53.93 billion 17.7%
India NPR 43.16 billion 14.2%
UAE NPR 40.87 billion 13.4%
Saudi Arabia NPR 38.15 billion 12.5%
Malaysia NPR 29.66 billion 9.7%
USA NPR 25.42 billion 8.3%
Japan NPR 22.87 billion 7.5%
Kuwait NPR 11.52 billion 3.8%
Bahrain NPR 8.79 billion 2.8%
South Korea NPR 6.15 billion 2%
UK NPR 5.04 billion 1.7%
Australia NPR 1.34 billion 0.4%

According to the report, the remittance was sent by all levels of Nepali workers in around 172 countries across the world.

Around 26,100 migrant workers went to UAE, 15,593 to Saudi Arabia, 12,274 to Qatar and 9,993 to Malaysia in the first four months of the current FY 2020.

Nepal has signed a bilateral labor agreement with eight countries including Qatar, UAE, Japan, South Korea, Bahrain, Israel, Jordan and Malaysia.