Gold Imports Dip in Fiscal Year 2080/81, but Showed a Wedding Season Surge in Mangsir

In a recent report by the Customs Department, Nepal has recorded the import of 1,200 kg of gold, amounting to 9.970 billion rupees, within the first five months of the ongoing fiscal year 2080/81 BS. This figure indicates a decline in gold imports compared to the corresponding period in the previous fiscal year when Nepal had imported 1,466 kg of gold.

The report highlights a general decrease in gold imports; however, a notable surge of 200 kg was observed in the month of Mangsir. This increase is attributed to the wedding season, a period traditionally associated with higher gold consumption in Nepal.

Despite the overall decrease in gold imports, the country’s affinity for gold during celebratory occasions remains evident. The dip in import numbers may be reflective of economic trends or changing consumer preferences. Analysts are closely monitoring these patterns to gain insights into the economic dynamics and consumer behavior in Nepal.