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World > Asia > Nepal > Economy (Facts)

Nepal - Economy (Facts)
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.
GDP - real growth rate: 1.9% (2006 est.)
GDP (purchasing power parity): $41.18 billion (2006 est.)
GDP (official exchange rate): $6.948 billion (2006 est.)
GDP - per capita (PPP): $1,500 (2006 est.)
GDP - composition by sector: agriculture: 38%
industry: 20%
services: 42% (FY05/06 est.)
Population below poverty line: 31% (FY03/04)
Household income or consumption by percentage share: lowest 10%: 2.6%
highest 10%: 39.1% (2003-2004)
Inflation rate (consumer prices): 8.6% (November 2006 est.)
Labor force: 11.11 million
note: severe lack of skilled labor (2006 est.)
Labor force - by occupation: agriculture: 76%
industry: 6%
services: 18% (2004 est.)
Unemployment rate: 42% (2004 est.)
Budget: revenues: $1.153 billion
expenditures: $1.927 billion; including capital expenditures of NA (FY06/07)
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.)
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2006 est.)
Agriculture - products: rice, corn, wheat, sugarcane, jute, root crops; milk, water buffalo meat
Exports: $822 million f.o.b.; note - does not include unrecorded border trade with India (2005 est.)
Exports - commodities: carpets, clothing, leather goods, jute goods, grain
Exports - partners: India 59.3%, US 14%, Germany 5.9% (2006)
Imports: $2 billion f.o.b. (2005 est.)
Imports - commodities: gold, machinery and equipment, petroleum products, fertilizer
Imports - partners: India 49%, China 12.4%, UAE 11.7%, Saudi Arabia 5.2%, Kuwait 4.4% (2006)
Debt - external: $3.07 billion (March 2006)
Economic aid - recipient: $533 million (FY04/05)
Currency: Nepalese Rupee (NPR)
Currency code: NPR
Exchange rates: Nepalese rupees per US dollar - 72.446 (2006), 72.16 (2005), 73.674 (2004), 76.141 (2003), 77.877 (2002)
Fiscal year: 16 July - 15 July


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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