NRB Report: Machinery, Telecom and Electrical Goods Imports Show Mixed Trends in 2025/26

Nepal’s import structure has shown a diverse pattern in the early months of FY 2025/26, with machinery, telecommunication equipment, and electrical goods recording mixed growth trends, according to the Nepal Rastra Bank (NRB) Mid-September 2025/26 report. The variation reflects shifting industrial investment priorities, steady digital infrastructure expansion, and selective consumer spending amid a broader 16.2% rise in total imports.

According to NRB, other machinery and parts imports reached Rs. 12.91 billion, a modest 1.5% increase from Rs. 12.72 billion during the same period last year. The marginal rise indicates continued industrial machinery demand — particularly for construction, hydropower, and manufacturing sectors — though the growth pace has softened compared to earlier years. Analysts attribute this slowdown to high borrowing costs and import control measures, which have limited large-scale equipment purchases.

In contrast, telecommunication equipment and parts imports saw strong growth of 29.1%, totaling Rs. 10.55 billion, up from Rs. 8.17 billion a year earlier. This reflects sustained investment by telecom operators and internet service providers expanding broadband networks and upgrading digital systems across Nepal. The rise also aligns with increased household demand for smartphones, routers, and electronic accessories amid growing digital connectivity.

Meanwhile, electrical goods and equipment imports displayed a more moderate trend. Imports of electrical equipmentincreased 13.9% to Rs. 6.13 billion, while electrical goods grew 7.2% to Rs. 3.45 billion, suggesting steady but controlled demand in Nepal’s construction and utility sectors. These imports are closely tied to ongoing hydropower projects, urban electrification, and infrastructure expansion, which continue to drive consistent inflows of power-related materials and devices.

Overall, the top 20 imported commodities accounted for 61.5% of total imports, reaching Rs. 187.57 billion out of Rs. 305.15 billion in total imports during the two-month period. The data indicates that Nepal’s economy is gradually normalizing, with industrial and digital investments balancing the effects of inflation and tighter monetary policies.

However, experts warn that the mixed trend across these industrial and technological imports underscores Nepal’s ongoing structural challenge — balancing capital goods imports needed for growth with foreign exchange sustainability. They recommend fostering domestic assembly and production capacity for machinery and electrical components to reduce dependency on imports while maintaining industrial momentum.