100 Information and Facts About Nepal’s Economy

59. In June 1998, Nepal submitted its memorandum on a foreign trade regime to the World Trade Organization and in May 2000 began direct negotiations on its accession.

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60. The annual monsoon rain, or lack of it, strongly influences economic growth. From 1996 to 1999, real GDP growth averaged less than 4%. The growth rate recovered in 1999, rising to 6% before slipping slightly in 2001 to 5.5%.

nepal rice terraces hilly region green area Picture
Rice terraces in hilly region of Nepal

61. Nepal receives substantial amounts of external assistance from the United Kingdom, the United States, Japan, Germany, and the Scandinavian countries.
NETWORK OF Macro-economic

62. Following chart shows the gross domestic product of Nepal at market prices estimated by the International Monetary Fund and EconStats with figures in millions of Nepalese Rupees.

dhan-ropai-rice-farming-nepal

Year Gross domestic product
1960 3,870
1965 5,602
1970 8,768
1975 16,571
1980 23,350
1985 46,586
1990 103,415
1995 219,174
2000 379,488

2068 Statistics

GDP: purchasing power parity – $42.60 billion (2012)
GDP – real growth rate: 0.5% (2016)
GDP – per capita: purchasing power parity (current international $) – $2374.2 (2014) GDP – composition by sector:
Agriculture: 37%
Industry: 17%
Services: 50% (2014 est.)
Population below poverty line: 23.8% (2011)

63. Household income or consumption by percentage share:

Lowest 10%: 3.2%
Highest 10%: 29.8% (1995–96)
Inflation rate (consumer prices): 8.7% (2014)
Labor force: 4 million (2016 est.) [Citation needed. It cannot be more than the entire population.]
Labor force – by occupation: agriculture 81%, services 16%, industry 3%
Unemployment rate: 38% (2012 est.)

success story all over the place and everybody around you knows you

64. Budget:

revenues: $665 million
expenditures: $1.1 billion, including capital expenditures of $NA (FY 99/00 est.)
Industries: tourism, carpet, textile; small rice, jute, sugar, and oilseed mills; cigarette; cement and brick production
Industrial production growth rate: 8.7% (FY 99/00):
Electricity – production: 1,755 GWh (2001)
Electricity – production by source:
Fossil fuel: 8.5%
Hydro: 91.5%
Nuclear: 0%

65. Other: 0% (2001) Available energy:4631.51 GWh (2014) NEA HYDRO:2290.78 GWh (2014) NEA THERMAL:9.56 GWh (2014) purchase(total):2331.17 GWh (2014) India(purchase):1072.23 GWh (2014) Nepal(IPP):1258.94 GWh (2014) Electricity – consumption: 1,764 GWh (2001)
Electricity – exports: 95 GWh (2001)
Electricity – imports: 227 GWh (2001)
Oil – production: 0 barrels per day (0 m3/d) (2001 est.)
Oil – consumption: 16,000 barrels per day (2,500 m3/d) 2001
Agriculture – products: rice, maize, wheat, sugarcane, root crops; milk, domestic buffalo meat
Exports: $568 million f.o.b., but does not include unrecorded border trade with India (2002 est.)
Exports – commodities: carpets, clothing, leather goods, jute goods, grain
Exports – partners: India 50.5%, US 26%, Germany 6.6% (2003 est.)
Imports: $1.419 billion f.o.b. (2002 est.)
Imports – commodities: gold, machinery and equipment, petroleum products, fertiliser
Imports – partners: India 82.9%, China 13.5%, UAE 2.6%, Singapore 2.1%, Saudi Arabia 1.2%.
Debt – external: $4.009 billion (2014)
Economic aid – recipient: $424 million (FY 00/01)
Currency: 1 Nepalese rupee (NPR) = 100 paisa
Fiscal year: 16 July – 15 Jul

66. Nepal’s agriculture-dominated economy lacks the entrepreneurial dynamism needed for broad-based growth. A statist approach holds development far below the country’s potential. Government interference continues to hurt regulatory efficiency, and there has been little effort to modernize the trade and investment regimes.

hilly-green-region-of-nepal

Economic Freedom Snapshot
2016 Economic Freedom Score: 50.9 (down 0.4 points)
Economic Freedom Status: Mostly Unfree
Global Ranking: 151st
Regional Ranking: 34th in the Asia–Pacific Region

67. Notable Successes: None
Concerns: Rule of Law, Open Markets, and Labor Freedom
Overall Score Change Since 2012: +0.7
Nepal GDP Annual Growth Rate

Compare…
Forecast Alert Me Watch Embed
Nepal GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 0.77 2.32 8.60 0.16 percent [+]
GDP 20.88 19.77 20.88 0.50 USD Billion [+]
GDP per capita 689.81 675.40 689.81 267.23 USD [+]
GDP per capita PPP 2313.39 2265.05 2313.39 1198.44 USD [+]
GDP Constant Prices 764174.87 759914.68 764174.87 442048.99 Million Rupees [+]
GDP From Agriculture 237764.55 235094.51 237764.55 158416.88 NPR Million [+]
GDP From Construction 41064.41 42766.41 42766.41 27225.05 NPR Million [+]
GDP From Manufacturing 43329.00 48068.00 48068.00 36364.03 NPR Million [+]
GDP From Mining 3022.00 3233.00 3233.00 1976.74 NPR Million [+]
GDP From Public Administration 13848.00 13091.00 13848.00 7236.53 NPR Million [+]
GDP From Services 57373.00 55313.36 57373.00 31537.93 NPR Million [+]
GDP From Transport 76715.00 74807.00 76715.00 34055.00 NPR Million [+]
GDP From Utilities 15111.00 15366.00 15366.00 8630.85 NPR Million
[+]
SEVERAL MORE INFORMATION.

68. Nepal | Credit Rating at 15.00
69. Nepal Interest Rate at 7.00 percent
70. Nepal Food Inflation at 7.70 percent
71. Nepal Inflation Rate at 7.90 percent
72. Ease of Doing Business in Nepal at 107.00
73. Nepal Competitiveness Index at 3.87 Points
74. Nepal Competitiveness Rank at 98.00

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