Macroeconomic Update of Nepal (Bhadra 2076/Mid-September 2019)

Macroeconomic Update of Nepal (Bhadra 2076/Mid-September 2019)

1. Consumer inflation stood at 6.16 percent on y-o-y basis.
2. Merchandise exports increased by 25.9 percent.
3. Merchandise imports decreased 1.2 percent.
4. Total trade deficit narrowed by 3.1 percent.
5. Net services income remained at a deficit of Rs.5.06 billion.
6. Remittance inflows decreased 0.3 percent to Rs.153.73 billion.
7. Number of Nepalese workers migrated for foreign employment increased 0.2 percent.
8. Current account registered a deficit of Rs.21.79 billion.
9. Balance of Payments (BOP) remained at a surplus of Rs.8.83 billion.
10. Gross foreign exchange reserves increased to Rs.1078.94 billion.
11. Foreign exchange reserves of the banking sector is sufficient to cover the prospective imports of 8.4 months.
12. Deposits at BFIs grew by 17 percent on y-o-y basis.
13. Credit to the private sector from BFIs increased 20 percent on y-o-y basis.
14. Base rate of commercial banks decreased to 9.53 percent.
15. Commercial banks extended their branches at 739 levels out of 753.
16. Total number of BFIs licensed by NRB is 168 of which 28 commercial banks, 28 development banks, 22 finance companies, 89 microfinance financial institutions and 1 infrastructure development bank are in operation.
17.  The number of branches of BFIs stood at 8970 .
18. The number of companies listed at NEPSE stood at 218 .