Economy of Nepal
Overview
Nepal is among the poorest and least developed countries in the world with almost one-third of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for 38% of GDP. Industrial activity mainly involves the processing of agricultural produce including jute, sugarcane, tobacco, and grain.
Security concerns relating to the Maoist conflict have led to a decrease in tourism, a key source of foreign exchange. Nepal has considerable scope for exploiting its potential in hydropower and tourism, areas of recent foreign investment interest. Prospects for foreign trade or investment in other sectors will remain poor, however, because of the small size of the economy, its technological backwardness, its remoteness, its landlocked geographic location, its civil strife, and its susceptibility to natural disaster.
GDP
Real Growth Rate
0%
Per Capita
USD Unknown
From Agriculture
0%
From Industry
0%
From Services
0%
Labour Force
Available for Work
Unknown
Working in Agriculture
0%
Working in Industry
0%
Working in Services
0%
Unemployment Rate
0%
Population Below Poverty Line
31%
Inflation Rate
9%
Investment as Percent of GDP
0%
Budget
Revenues
USD 1,153 (m)
Expenditures
USD 1,927 (m)
Public Debt
US$ 3070.00 (m)
Agricultural Products
Rice, corn, wheat, sugarcane, jute, root crops; milk and water buffalo meat.
Core Industries
Tourism, carpet, textile; small rice, jute, sugar, and oilseed mills; cigarettes, cement and brick production.
Exports
Value
USD 822 (m)
Commodities
Carpets, clothing, leather goods, jute goods and grain.
Partners
India 53.7%, US 17.4%, Germany 7.1% (2005).
Imports
Value
USD 2,000 (m)
Commodities
Gold, machinery and equipment, petroleum products and fertilizer.
Partners
India 47.7%, UAE 11.2%, China 10.8%, Saudi Arabia 4.9% and Kuwait 4.2% (2005).
External Debt
USD 3,070 (m)
Fiscal Year
16 July - 15 July
