| Economy | Nepal |
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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 about one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. During the global recession of 2009, remittances from foreign workers abroad increased 47% to $2.8 billion while tourist arrivals only decreased 1% compared to the previous year. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of feasible capacity, but political instability hampers foreign investment. Additional challenges to Nepal's growth include its technological backwardness, landlocked geographic location, civil strife and labor unrest, and its susceptibility to natural disaster. |
GDP (purchasing power parity):
|
$33.26 billion (2009 est.)
$31.77 billion (2008 est.)
$30.17 billion (2007 est.)
note: data are in 2009 US dollars |
GDP - per capita (PPP):
|
$1,200 (2009 est.)
$1,100 (2008 est.)
$1,100 (2007 est.)
note: data are in 2009 US dollars |
GDP (official exchange rate):
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$12.47 billion (2009 est.) |
GDP - real growth rate:
|
4.7% (2009 est.)
5.3% (2008 est.)
3.3% (2007 est.) |
GDP - composition by sector:
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agriculture: 35%
industry: 16%
services: 49% (FY07 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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24.7% (2004) |
Household income or consumption by percentage share:
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lowest 10%: 6%
highest 10%: 40.6% (2006) |
Distribution of family income - Gini index:
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47.2 (2008)
36.7 (1996) |
Inflation rate (consumer prices):
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13.2% (September 2009 est.)
7.7% (2007 est.) |
Central bank discount rate:
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6.5% (31 December 2008)
6.25% (31 December 2007) |
Commercial bank prime lending rate:
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NA% (31 December 2008) |
Stock of money:
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$2.106 billion (31 December 2008)
$2.184 billion (31 December 2007) |
Stock of money - per capita:
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74 USD per capita |
Stock of quasi money:
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$6.99 billion (31 December 2008)
$4.745 billion (31 December 2007) |
Stock of quasi money - per capita:
|
245 USD per capita |
Stock of domestic credit:
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$5.556 billion (31 December 2008)
$5.636 billion (31 December 2007) |
Stock of domestic credit - per capita:
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195 USD per capita |
Labor force:
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18 million
note: severe lack of skilled labor (2008 est.) |
Labor force participation rate:
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63.02 % of population |
Labor force - by occupation:
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agriculture: 76%
industry: 6%
services: 18% (2004 est.) |
Unemployment rate:
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46% (2008 est.)
42% (2004 est.) |
Budget:
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revenues: $2.3 billion
expenditures: $3.7 billion (FY08) |
Budget revenues per capita:
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81 USD per capita |
Public debt:
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void |
Industries:
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tourism, carpets, textiles; small rice, jute, sugar, and oilseed mills; cigarettes, cement and brick production |
Industrial production growth rate:
|
1.8% (FY08) |
Electricity - production:
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2.6 billion kWh (2007 est.) |
Electricity - production per capita:
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92 kWh per capita |
Electricity - consumption:
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2.243 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
79 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
213 million kWh (2008 est.) |
Oil - production:
|
0 bbl/day (2008 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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18,000 bbl/day (2008 est.) |
Oil - consumption - per capita:
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0.23 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2007 est.) |
Oil - imports:
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16,920 bbl/day (2007 est.) |
Oil - proved reserves:
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0 bbl (1 January 2009 est.) |
Natural gas - production:
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0 cu m (2008 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2008 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2008 est.) |
Natural gas - imports:
|
0 cu m (2008 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2009 est.) |
Agriculture - products:
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pulses, rice, corn, wheat, sugarcane, jute, root crops; milk, water buffalo meat |
Current account balance:
|
$537 million (2009 est.)
$241 million (2007) |
Current account balance - per capita:
|
19 USD per capita |
Exports:
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$907 million (2008 est.)
$868 million (2006) |
Exports per capita:
|
32 USD per capita |
Exports - commodities:
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clothing, pulses, carpets, textiles, juice, pashima, jute goods |
Exports - partners:
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India 59.2%, US 8.7%, Bangladesh 8.3%, Germany 4.3% (2008) |
Imports:
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$3.626 billion (2009 est.)
$3.229 billion (2006) |
Imports per capita:
|
127 USD per capita |
Imports - commodities:
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petroleum products, machinery and equipment, gold, electrical goods, medicine |
Imports - partners:
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India 55.4%, China 13.3%, Singapore 2% (2008) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$4.5 billion (2009 est.)
$3.285 billion (March 2006 est.) |
Debt - external - per capita:
|
158 USD per capita |
Stock of direct foreign investment - at home:
|
$NA |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
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$5.5 billion (31 December 2008)
$4.909 billion (31 December 2007)
$1.805 billion (31 December 2006) |
Market value of publicly traded shares - per capita:
|
193 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$427.9 million |
Economic aid - recipient per capita:
|
15 USD per capita |
Currency (code):
|
Nepalese rupee (NPR) |
Exchange rates:
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Nepalese rupees (NPR) per US dollar - 77.44 (2009), 65.21 (2008), 70.35 (2007), 72.446 (2006), 72.16 (2005) |
Fiscal year:
|
16 July - 15 July |
|
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