As a share of its GDP, Nepal was the third largest recipient of remittances in 2014. Remittance inflows to Nepal amounted 29.2 percent of GDP in 2014. Tajikistan and Kyrgyz Republic received remittances amounting to 36.6 percent of GDP and 30.3 percent of GDP, respectively. In 2015, remittance inflows to Tajikistan and Kyrgyz Republic was $2.6 billion and $1.7 billion, respectively. In Nepal, it is estimated to be about $7 billion. 

 

The remittance inflows soared last year immediately after the earthquake and has been one of the most important income sources (sans faster government aid) of the earthquake-affected households. Increased inflows to finance daily household needs has been one of the most vital coping strategies of the affected households.

 

In 2015, Nepal received remittances from around 35 countries. The highest bilateral remittance inflows was from Qatar ($2.02 billion), followed by Saudi Arabia ($1.8 billion), India ($1 billion), UAE ($803 million) and the United States ($332 million). Qatar and Saudi Arabia absorbed about 124,368 and 98,246 migrants respectively in 2015. Malaysia was the most popular destination with 202,828 migrants in 2015, but the remittance inflows from Malaysia are lower than from other destination ($185 million). Most of the countries waived remittance costs immediately after the earthquake, leading to a surge in inflows. 

 

Interestingly, India received $2.7 billion as remittances from Nepal in 2015.