Major Income Source of Nepal


Major Income Source of Nepal

Nepal is a unique country inhabited by multi-lingual, multi­cultural and multi-ethnic people. There are 92 spoken languages and more than 100 ethnic groups in Nepal (CBS, 2001). There are many other linguistic groups like Maithih, Bhojpuri, Newari, Rai, Gurung, Magar, etc. In terms of castes, Chhetries, Brahmins, Newars, Tharus, Gurungs, Magars, Tamangs are in majority respectively.   Regarding religion.   Hinduism   is   the   main  religion   of  the   nation,   though Buddhism, Islam, Kirant are also existing there.

Nepal has got beautiful flora and fauna as natural gifts. Nepal’s beautiful high landscapes, lakes, green valleys, waterfalls, streams and hill-sides scattered in the form of an endless series of terraces have been the source of great attraction and admiration.

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Nepal is also known as the country of different ethnic groups, multi-cultures and festivals. Festivals are the prominent facets of Nepalese life in which people from all areas of life participate enthusiastically. Nepalese people celebrate a festival one or the other almost every week on local basis or national level in different pails of the country. The religions, customs, life style, festivals, food habits, clothing and languages of different people differ as per geographical and ethnic variations. One remarkable feature of Nepalese culture is persisting harmony in the midst of diversity.

It has an average height of 200 metres from the sea level and occupies 23 percent of the land area    of    the    country.    Apart    from    the    ecological    divisions, administratively there are five development regions: eastern, central, western, mid-western and far western. The nation is further divided into fourteen zones and seventy-five districts.

counting Nepali Rupees Paper Money
Counting Nepali Paper Money

The major source of the national economy is remittance. The major source of the national economy is agriculture and remittance and the rest include manufacturing, trade, commerce and services. The main sources of earning foreign currency are merchandise export, services, tourism and remittance from abroad. In general, Nepalese economy is characterized by slow growth, mass poverty and large scale deprivations. However, development efforts have been initiated but the results have not been encouraging in many sectors. Thus, il is essential to have a clear vision of future destination when world encourages utilization of potentials with competitive advantages like hydro-power, agro-industry, tourism and other sectors.

About 85 percent of the 23 million people of the country live in rural areas.

Nepal has used a series of five-year plans in an attempt to make progress in economic development. Agriculture remains Nepal’s principal economic activity, employing 70% of the population and providing 37% of GDP. Only about 20% of the total area is cultivable; another 33% is forested; most of the rest is mountainous. Rice and wheat are the main food crops. The lowland Terai region produces an agricultural surplus, part of which supplies the food-deficient hill areas.

look at the some facts about economy of Nepal taken from the widipedia.org.

GDP growth5.1% (2014est.)
GDP growth5.1% (2014est.)
GDP per capita$2,400 (2014 est.)
GDP by sectoragriculture (35%), industry (20%),services (45%) (2010 est.)
Inflation (CPI)8.6% (September 2013 est.), 10.6% (October 2011 est. source: myrepublica.com)
Population belowpoverty line24.7% (2008 est.)
Main industriesTourism, garment, food andbeverages, metal manufactures,herbs.
Ease-of-doing-business rank105th[2]
Exports$ 2 Billion (2013) f.o.b.; note – does not include unrecorded border trade with India (2013)
Export goodscarpets, clothing, leather goods, jute goods, grain, herbs,tea,coffee, steel,Cement,Business Processing Outsourcing, Software, Information Technology, Furniture, Cardamoms, Cloths etc
Main export partners India 55.7%
United States 10.1%
Germany 4.4% (2012 est.)[3]
Imports$ 7 billion f.o.b. (2013)
Import goodsPetroleum Products, GOLD, Machinery.
Main import partners India 51.0%
China 34.5% (2012 est.)[4]

Written by

Jitendra Sahayogee

I am Jitendra Sahayogee, a Writer of 12 Nepali Books, Director of Maithili films, Founder of Radio Stations, Designer of Websites and Editor of Some Nepali Blogs.

2 thoughts on “Major Income Source of Nepal

  1. major income of nepal is “REMITTANCE” sent by poor nepali’s hard earned .. which is looted by business men, banks, politicians, goverment management. there is no income from agriculture as Nepal have to import most of the foods like rice, lentils, fruits, wheat, flours, sugar etc from INDIA let alone the locally produced products to export outside

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