In the previous fiscal year, Nepal imported gold worth Rs 23.5 billion.

When compared to the previous year, when Nepal spent Rs 22.355 billion on gold imports, this expenditure indicates a 5.81 percent rise. The increase in the outflow of foreign cash has been mostly attributed to the rise in gold prices. In Nepal, the price of the valuable yellow metal hit Rs 149,800 per tola during the review year.

The amount of gold imported has fallen by 9.07 percent from the previous year, even though spending on gold imports has increased. 2,651 kg of gold were imported into Nepal last year, compared to 2,916 kg the year before.

The government has given commercial banks the duty of importing and distributing gold. At the moment, the United Arab Emirates (UAE) and Turkey are the main importers of gold, with additional imports coming from Hong Kong, Singapore, Switzerland, and other nations. Twenty kg of gold are imported by banks from these nations every day.

The DoC reports that the UAE imports 2,500 kg of gold valued at Rs 22.26 billion, Turkey imports 150 kg worth Rs 1.395 billion, while India imports 1,364 grams valued at Rs 22,000.

Additionally, gold was imported from Uzbekistan and Switzerland during the preceding fiscal year. 100 kilogram of gold weighing Rs 709.9 million was imported from Switzerland, and 280,000 worth came from Uzbekistan.

Imports of gold have also increased government revenue by Rs 1.10 billion. The amount of money received from the import of gold last year was Rs 3.64 billion, a 43.72 percent increase over the previous year's revenue of Rs 2.54 billion.