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High Balance Of Payment In Favor Of Nepal
By KTM Metro Reporter
September 19, 2013: according to the report of Nepal Rastra Bank (NRB): central bank of Nepal published on Tuesday, September 17, 2013, the high current account surplus has made the overall balance of payment surplus of Rs. 16.09 billion in the first month of the fiscal year 2013 compared to the surplus of Rs. 5.56 billion in the same period of the previous year, the news in the ‘gorkhapatraonline.com’ says.
In US dollar terms, the BOP and current account surpluses were recorded at USD 167.0 million and USD 104.5 million respectively in the review period. In the same period of the previous year, the BOP and current account surpluses were USD 62.7 million and USD 0.6 million respectively.
The current account in US dollar terms recorded a surplus of USD 104.5 million in the review period against the surplus of USD 0.6 million in the same period of the previous year. The high surplus in the current account is primarily due to the low growth of merchandise imports and decline in the service imports in the review period. According to the NRB, such low growth rate of imports in the review period is due to the low growth of imports from India and the decline in imports from other countries.
On the other side, the merchandise exports went up by 5.4 per cent to Rs. 7.59 billion during the first month of the fiscal year 2013 against the increment of 18.5 per cent to Rs. 7.20 billion in the same period of the previous year.
