The import of gold and silver jewelry by Nepali returnees has surged significantly, crossing Rs 5 billion in the first ten months of the current Fiscal Year (2024/25). This rise is attributed to falling gold prices abroad, with some items being up to Rs 30,000 cheaper per tola compared to local rates.
According to the Department of Customs, returnees brought in 209 kg of gold valued at Rs 2.49 billion and 19,030 kg of silver worth Rs 2.67 billion by mid-April. Compared to the same period last year, imports of gold jewelry rose from Rs 1.83 billion and silver from Rs 778.3 million.
While the overall import of gold has slightly declined to Rs 17.12 billion this fiscal year, jewelry imports have increased, highlighting a shift in consumer behavior driven by price advantages in international markets. Silver imports also stood at Rs 3.54 billion during the same period.
