Nepal Rastra Bank Report Highlights Economic Activities

Hamrakura
Published 2023 Jun 29 Thursday

Kathmandu: Nepal Rastra Bank, the central bank of the country, unveiled a report highlighting the economic activities within the nation. The report presented a data-based study on the country's economic affairs from mid-July 2022 to mid-January 2023.

As of mid-January 2023 in the current fiscal year, there has been a 4.3 percent increase in the main agriculture production, which includes food and other crops, vegetables, fruits, and spices. However, the geographical land area dedicated to such crops has decreased by 2.1 percent. Food and grain production has risen by 5.7 percent, while vegetable and horticulture yields have increased by 4.5 percent. Unfortunately, the production of fruits and spices has decreased by 5.2 percent and 8.4 percent, respectively. The report also mentions a 1.4 percent increase in milk production and a 1.7 percent increase in meat production. However, egg production has decreased by 26.3 percent during the half-yearly period.

Regarding timber-based production, wood production has seen a significant increase of 16.23 percent, and medicinal goods production has risen by 7.4 percent, as stated in the report.

The report indicates that the average capacity utilization of industries has reached 43.7 percent as of mid-January 2023. Additionally, the banks and financial institutions have allocated 27.9 percent of their loans to the industrial sector during the reporting period.

The number of real estate registrations has experienced a decline of 50.03 percent, while revenue generated through land registration has reached Rs 9.9 billion, according to the report.

In comparison to the corresponding period last year, the deposit of banks and financial institutions has increased by 9.1 percent, and there has been a 4.1 percent growth in loan flow as of January 2023.

The report also reveals a 4.1 percent increase in the number of total registered vehicles as of mid-January 2023 compared to the same period in the previous fiscal year.

Furthermore, during the first six months of the current fiscal year, the infrastructure sector witnessed the expansion of 34,075 km of roads and the construction of 3,018 bridges.

In terms of aviation, a total of 32 airline companies, including three Nepali airlines and 29 foreign airlines, operated flight services to various destinations during the reporting period. The number of operational airports throughout the year has reached 33.



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