Kathmandu, Sept. 6 -- Much like the import of other non-essential commodities the import of gold also declined sharply in the fiscal year 2019-20 with 60.6 percent less of it entering the country compared to the fiscal year 2018-19 mainly because of the fall in demand.

According to Nepal Rastra Bank, the country imported Rs13.63 billion worth of the yellow metal in the last fiscal year, down from Rs34.63 billion compared to the previous one. The import had stood at Rs32.20 billion in the fiscal year 2017-18.

Of the country's total imports the share of gold was 1.1 percent in 2019-20.

Tej Ratna Shakya, former president of Federation of Nepal Gold and Silver Dealers' Association said gold was imported only five months in the last fiscal ...