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Nepal
Economy
Nepal is among the poorest and least developed countries in the
world with nearly half of its population living below the poverty
line. Agriculture is the mainstay of the economy, providing a livelihood
for over 80% of the population and accounting for 41% of GDP. Industrial
activity mainly involves the processing of agricultural produce
including jute, sugarcane, tobacco, and grain. Production of textiles
and carpets has expanded recently and accounted for about 80% of
foreign exchange earnings in the past three years. Apart from agricultural
land and forests, exploitable natural resources are mica, hydropower,
and tourism. Agricultural production is growing by about 5% on average
as compared with annual population growth of 2.5%. Since May 1991,
the government has been moving forward with economic reforms particularly
those that encourage trade and foreign investment, e.g., by eliminating
business licenses and registration requirements in order to simplify
investment procedures. The government has also been cutting expenditures
by reducing subsidies, privatizing state industries, and laying
off civil servants. More recently, however, political instability—five
different governments over the past few years—has hampered
Kathmandu's ability to forge consensus to implement key economic
reforms. Nepal has considerable scope for accelerating economic
growth by 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, and its susceptibility
to natural disaster. The international community's role of funding
more than 60% of Nepal's development budget and more than 28% of
total budgetary expenditures will likely continue as a major ingredient
of growth. |
 Aid (% of GDP):
7.1% [41st of 133]
Budget (expenditures): $1.1 billion, including capital expenditures of $NA (FY 99/00 est.) [120th of 226]
(per $ GDP): $2.94 per $100 [202nd of 218]
(per capita): $41.55 per person [212nd of 226]
Budget (revenues): $665 million [132nd of 226]
(per $ GDP): $1.78 per $100 [214th of 218]
(per capita): $25.12 per person [218th of 226]
Currency: Nepalese rupee (NPR)
Currency code: NPR
Debt - external: $2.55 billion (FY 00/01) [110th of 198]
(per $ GDP): $6.83 per $100 [161st of 195]
(per capita): $96.33 per person [182nd of 198]
Debt service: 4.89% (2001) [105th of 149]
Distribution of family income - Gini index: 36.7 (FY 95/96) [64th of 112]
Economic aid - recipient: $424 million (FY 00/01) [43rd of 179]
(per $ GDP): $1.13 per $100 [81st of 173]
(per capita): $16.01 per person [106th of 179]
Economic freedom: 1.5 (2003) [123rd of 161]
Exchange rates: Nepalese rupees per US dollar - 77.88 (2002), 74.95 (2001), 71.09 (2000), 68.24 (1999), 65.98 (1998)
Exports: $720 million f.o.b., but does not include unrecorded border trade with India (2001 est.) [129th of 225]
(per $ GDP): $1.92 per $100 [206th of 221]
(per capita): $27.20 per person [205th of 225]
Exports - commodities: carpets, clothing, leather goods, jute goods, grain
Exports - goods and services: 24% [118th of 163]
Exports - high technology: (.) (1998)
Exports - manufactured: 77% (1999) [36th of 130]
Exports - partners: India 47.5%, US 27.6%, Germany 7.5% (2002)
Exports - primary: 23% (1999) [76th of 122]
Exports of goods and services (% of GDP): 22.38% (2001) [127th of 196]
Exports to US: $50800000 [102nd of 246]
(per $ GDP): $0.13 per $100 [134th of 213]
(per capita): $1.91 per person [163rd of 222]
Fiscal year: 16 July - 15 July [0th of 233]
GDP: $37.32 billion (2002 est.) [76th of 229]
(per capita): $1409.92 per person [183rd of 236]
GDP (PPP): $30.6 billion [77th of 165]
GDP - composition by sector (agriculture): 40% [25th of 206]
GDP - composition by sector (industry): 20% [141st of 205]
GDP - composition by sector (services): 40% (2002 est.) [166th of 206]
GDP - real growth rate: -0.6% (2002 est.) [190th of 211]
GDP growth (1975-2000): 2.1% [39th of 156]
GDP growth (1980-2000): 44% [36th of 110]
Gross National Income: $5.830441 billion (2001) [96th of 205]
(per $ GDP): $15.62 per $100 [160th of 170]
(per capita): $220.26 per person [156th of 172]
Human Development Index: 0.490 [135th of 173]
Imports: $1.6 billion f.o.b. (2001 est.) [123rd of 225]
(per $ GDP): $4.28 per $100 [201st of 221]
(per capita): $60.44 per person [200th of 225]
Imports - commodities: gold, machinery and equipment, petroleum products, fertilizer
Imports - goods and services: 32% [105th of 163]
Imports - partners: India 21.2%, China 13%, UAE 11.1%, Singapore 8.5%, Hong Kong 5.9%, Saudi Arabia 4.9%, Kuwait 4.1% (2002)
Imports from US: $2800000 [176th of 246]
(per $ GDP): $0.00 per $100 [200th of 213]
(per capita): $0.10 per person [210th of 222]
Imports of goods and services (% of GDP): 32.03% (2001) [118th of 196]
Income category: Low income
Income distribution (poorest 10%): 3.2% (consumption) [31st of 116]
Income distribution (poorest 20%): 7.6% (consumption) [34th of 116]
Income distribution (richest 10%): 29.8% (consumption) [63rd of 116]
Income distribution (richest 20%): 44.8% (consumption) [63rd of 116]
Industrial production growth rate: 8.7% (FY 99/00) [15th of 162]
Industries: tourism, carpet, textile; small rice, jute, sugar, and oilseed mills; cigarette; cement and brick production
Industry - Value added: 22.04 (2001) [0th of 185]
Industry - Value added (% of GDP): 22.04% (2001) [0th of 185]
Inflation (1990-2000): 8.6% [79th of 158]
Inflation rate (consumer prices): 2.8% (2001 est.) [128th of 219]
Informal economy: 38.4 [39th of 111]
Net foreign investment: 0.1% [121st of 133]
Population below poverty line: 42% (1995-96) [48th of 117]
Population under $1 a day: 37.7% [14th of 60]
Population under $2 a day: 82.5% [12nd of 60]
Share of household income (highest 10%): 29.8% (1995-96) [63rd of 114]
Share of household income (lowest 10%): 3.2% [32nd of 114]
Technological achievement: 0.08 (circa 2000) [66th of 68]
Trade balance with US: $-48000000 [151st of 246]
(per $ GDP): $-0.12 per $100 [133rd of 213]
(per capita): $-1.81 per person [120th of 222]
Trade in goods: 39.73% (2001) [133rd of 197]
Transnational corporations (affiliates): 224 [66th of 188]
(per capita): 8.46 per 1 million people
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