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Kathmandu: In the first three months of the current fiscal year, remittances to Nepal surged 35.4 percent, reaching Rs 5.53 trillion, according to Nepal Rastra Bank. In the same period last year, remittances had risen 11.9 percent to Rs 4.08 trillion.

In the first month of this fiscal year, Shrawan, remittances jumped 29.9 percent to Rs 1.77 trillion. In Bhadra, they increased 33.1 percent to Rs 3.52 trillion.

During the first quarter, the current account held Rs 2.37 trillion, while the capital account recorded Rs 2.64 trillion in savings. Last year, the same accounts had Rs 1.15 trillion and Rs 1.84 trillion, respectively.

Goods exports rose 89.6 percent to Rs 72.78 billion in the same period, while imports grew 19.8 percent to Rs 4.68 trillion. This led to a total trade deficit increase of 12.2 percent, totaling Rs 3.95 trillion.

The data reflects strong inflows from Nepalis abroad, highlighting their critical role in sustaining the country’s economy despite growing trade deficits.