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Nepal:
Economy

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Economy - overview
Definition
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)
Definition - World rank and map
$29.04 billion (2007 est.)
GDP (official exchange rate)
Definition
$9.627 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
2.5% (2007 est.)
GDP - per capita
Definition - World rank and map
$1,200 (2007 est.)
GDP - composition by sector
Definition
agriculture: 38%
industry: 20%
services: 42% (FY05/06 est.)
Labor force
Definition
11.11 million
note: severe lack of skilled labor (2006 est.)
Labor force - by occupation
Definition
agriculture: 76%
industry: 6%
services: 18% (2004 est.)
Unemployment rate
Definition - World rank and map
42% (2004 est.)
Population below poverty line
Definition
30.9% (2004)
Household income or consumption by percentage share
Definition
lowest 10%: 2.6%
highest 10%: 40.6% (2004)
Distribution of family income - Gini index
Definition - World rank and map
47.2 (2004)
Inflation rate (consumer prices)
Definition - World rank and map
6.4% (2007 est.)
Budget
Definition
revenues: $1.153 billion
expenditures: $1.927 billion (FY06/07)
Agriculture - products
Definition
rice, corn, wheat, sugarcane, jute, root crops; milk, water buffalo meat
Industries
Definition
tourism, carpets, textiles; small rice, jute, sugar, and oilseed mills; cigarettes, cement and brick production
Industrial production growth rate
Definition - World rank and map
2.2% (FY05/06)
Electricity - production
Definition - World rank and map
2.511 billion kWh (2006)
Electricity - consumption
Definition - World rank and map
1.96 billion kWh (2006)
Electricity - consumption per capita
Definition - World rank and map
66.4 kWh (2006)
Electricity - exports
Definition
101 million kWh (2006)
Electricity - imports
Definition
266 million kWh (2006)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
11,550 bbl/day (2006 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.4 bbl/day (2006 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
11,530 bbl/day (2006 est.)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
$58 million (2007)
Exports
Definition - World rank and map
$830 million f.o.b.; note - does not include unrecorded border trade with India (2006)
Exports - commodities
Definition
carpets, clothing, leather goods, jute goods, grain
Exports - partners
Definition
India 70.3%, US 8.9%, Germany 4.1% (2006)
Imports
Definition - World rank and map
$2.398 billion f.o.b. (2006)
Imports - commodities
Definition
gold, machinery and equipment, petroleum products, fertilizer
Imports - partners
Definition
India 56.9%, China 12.1%, Indonesia 2.9% (2006)
Debt - external
Definition - World rank and map
$3.07 billion (March 2006)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$963.5 million (2005)
Economic aid - recipient
Definition
$427.9 million (2005)
Currency (code)
Definition
Nepalese rupee (NPR)
Exchange rates
Definition
Nepalese rupees per US dollar - NA (2007), 72.446 (2006), 72.16 (2005), 73.674 (2004), 76.141 (2003)
Fiscal year
Definition
16 July - 15 July


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