Kathmandu. Nowadays Nepal has been known as a labor exporting country. It means inflow of remittances, in straight. That’s the reason Nepal has brought in 640 billion in the last five months of the current fiscal year 2081-82 (Shrawan to Mangsir). Remittances of more than Rs. 100 billion have been continuously received monthly for the last 24 months.

In just one month of Mangsir, remittances worth Rs 118 billion were received. In the five months of the last fiscal year 2080-81, remittances worth Rs 613 billion were received.

In these five months, three billion 180 million rupees have been released as remittances. The number of people going for foreign employment in the five months has increased by 18 percent compared to the same period of the last fiscal year.

In the last fiscal year, 274,000 people obtained new and renewed work permits, while this year the number of people receiving them is 325,000 more.

Similarly, despite a modest improvement in imports, the country’s foreign exchange reserves continue to record highs as remittances increase.

Foreign exchange reserves have reached 2.273 trillion rupees. This is the highest ever. The current reserves are also a historic high in dollar terms. Currently, such reserves are 16.75 billion dollars.

Such foreign exchange reserves in the country can support the import of goods and services for 18 months and 18 days. Imports have increased by only three percent. During this period, imports amounted to 661 billion rupees. In the same period last year, imports amounted to 642 billion rupees.