KATHMANDU: Nepal has generated NPR 832.7 million in net foreign currency from the export of information technology (IT) and telecommunication services in the first month of the current fiscal year 2081/82.
According to a report published by Nepal Rastra Bank on Thursday, covering the economic and financial status of the first month (July) of the fiscal year, IT service exports reached NPR 1.1448 billion, while imports stood at NPR 312.1 million during the same period. Out of this, telecommunication service exports amounted to NPR 282.2 million, with imports of NPR 104.7 million, resulting in a net export of NPR 177.5 million.
Similarly, computer service exports totaled NPR 861.9 million, with imports of NPR 204.5 million, leading to a net export of NPR 657.5 million.
Nepal Rastra Bank has begun publishing detailed statistics on IT service imports and exports separately. Previously, the central bank followed the fifth edition of the Balance of Payments Manual (BPM5) as per the International Monetary Fund’s (IMF) Balance of Payments guidelines and collected data accordingly.
From fiscal year 2077-78 BS, Nepal Rastra Bank began publishing the BPM tables in line with the sixth edition of the IMF’s Balance of Payments and International Investment Position Manual (BPM6).
Starting from the first month of the fiscal year 2081/82, the central bank has processed data as per the BPM6 guidelines and has begun publishing statistics accordingly, with specific details on IT service imports and exports under the service account.