Import of Gold by Nepal for first 9 months of Fiscal Year 2019/020. Source: Nepal Rastra Bank

Import of gold by Nepal reached to NPR 26 Billion in first nine months (up to mid – Mar) of FY 2018/19 from NPR 23.3 Billion during preceding year. However, import of gold for the first nine months of current fiscal year dropped to NPR 13.6 Billion bringing some relief to the government on trade deficit. This is one of the factors contributing to decline in external trade imbalance. People might have been recycling old gold to meet their demand.

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