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Poland, Torun
NEPAL
COUNTRIES A-Z
Nepal Economy
Country Name: Nepal
Capital City: Kathmandu
Population: 28,901,790 (2007 est.)
Population Growth: 2.132% (2007 est.)
Currency: Nepalese rupee (NPR)
Languages: Nepali 47.8%, Maithali 12.1%, Bhojpuri 7.4%, Tharu (Dagaura/Rana) 5.8%, Tamang 5.1%, Newar 3.6%, Magar 3.3%, Awadhi 2.4%, other 10%, unspecified 2.5% (2001 census)
Area: 147,181 sq km
Inflation Rate: 8.6% (November 2006 est.)
Unemployment Rate: 42% (2004)
Domain extension:
ECONOMIC DETAILS OF NEPAL
ECONOMY 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.
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 - purchasing power parity:
$41.18 billion (2006 est.)
GDP - real growth rate:
1.9% (2006 est.)
GDP - per capita:
$1,500 (2006 est.)
GDP - by sector (agriculture):
agriculture: 38%
GDP - by sector (industry):
industry: 20%
GDP - by sector (services):
services: 42% (FY05/06 est.)
Export Partners:
India 59.3%, US 14%, Germany 5.9% (2006)
Import Partners:
India 49%, China 12.4%, UAE 11.7%, Saudi Arabia 5.2%, Kuwait 4.4% (2006)
Export Commodities:
carpets, clothing, leather goods, jute goods, grain
Import Commodities:
gold, machinery and equipment, petroleum products, fertilizer
Exports Volume:
$822 million f.o.b.; note - does not include unrecorded border trade with India (2005 est.)
Imports Volume:
$2 billion f.o.b. (2005 est.)
Labour Force:
11.11 million
Unemployment Rate:
42% (2004 est.)
Population below poverty line:
31% (FY03/04)
Inflation Rate:
8.6% (November 2006 est.)
Investment (gross fixed):
Public Debt:
Agriculture Products:
rice, corn, wheat, sugarcane, jute, root crops; milk, water buffalo meat
Industries:
tourism, carpet, textile; small rice, jute, sugar, and oilseed mills; cigarettes, cement and brick production
Industrial Production Growth Rate:
2.2% (FY05/06)
Electricity - production:
2.511 billion kWh (2006)
Electricity - consumption:
1.96 billion kWh (2006)
Electricity - exports:
101 million kWh (2006)
Electricity - imports:
266 million kWh (2006)
Oil - production:
0 bbl/day (2005 est.)
Oil - consumption:
11,550 bbl/day (2006 est.)
Oil - exports:
NA bbl/day
Oil - imports:
11,530 bbl/day (2006 est.)
Natural gas - production:
0 cu m (2006 est.)
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Current Account Balance:
Currency Code:
Nepalese rupee (NPR)