Nepal - Economy
How is the economy of Nepal? Based on the information we have, Nepal has a low-income South Asian economy; post-conflict fiscal federalism increasing stability; COVID-19 hurt trade and tourism; widening current account deficits; environmentally fragile economy from earthquakes; growing Chinese relations and investments. Key agricultural products in this country include: rice, vegetables, potatoes, sugarcane, maize, wheat, bison milk, milk, mangoes/guavas, fruits (2022).
More about the economy of Nepal
| Labor force | 8.937 million (2023 est.) |
|---|---|
| Industrial production growth rate | 1.38% (2023 est.) |
| Industries | tourism, carpets, textiles, small rice, jute, sugar, oilseed mills, cigarettes, cement and brick production |
| Population below poverty line | |
| Taxes and other revenues | 17.49% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Nepalese rupees (NPR) per US dollar - |
| Exchange rates 2023 | 132.115 (2023 est.) |
| Exchange rates 2022 | 125.199 (2022 est.) |
| Exchange rates 2021 | 118.134 (2021 est.) |
| Exchange rates 2020 | 118.345 (2020 est.) |
| Exchange rates 2019 | 112.609 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $5.677 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $12.456 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $9.319 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $9.639 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $939.38 million (2023 est.) |
| Current account balance 2022 | -$2.518 billion (2022 est.) |
| Current account balance 2021 | -$5.363 billion (2021 est.) |
| Public debt | |
| Public debt 2021 | 39.92% of GDP (2021 est.) |
| Budget | |
| Revenues | $7.625 billion (2021 est.) |
| Expenditures | $7.163 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 26.89% of GDP (2023 est.) |
| Remittances 2022 | 22.56% of GDP (2022 est.) |
| Remittances 2021 | 22.28% of GDP (2021 est.) |
| Imports | |
| Imports 2023 | $14.098 billion (2023 est.) |
| Imports 2022 | $15.462 billion (2022 est.) |
| Imports 2021 | $16.993 billion (2021 est.) |
| Imports (partners) | India 64%, China 13%, UAE 3%, Indonesia 2%, US 2% (2022) |
| Comodities Imports force | refined petroleum, natural gas, gold, rice, soybean oil (2022) |
| Exports | |
| Imports 2023 | $14.098 billion (2023 est.) |
| Imports 2022 | $15.462 billion (2022 est.) |
| Imports 2021 | $16.993 billion (2021 est.) |
| Exports (partners) | India 67%, US 11%, Germany 3%, Turkey 2%, UK 2% (2022) |
| Comodities Exports force | palm oil, soybean oil, garments, synthetic fibers, knotted carpets (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $144.31 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $141.546 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $134 billion (2021 est.) |
| GDP (official exchange rate) | $40.908 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $4,700 (2023 est.) |
| Real GDP per capita 2022 | $4,600 (2022 est.) |
| Real GDP per capita 2021 | $4,500 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 21.2% (2023 est.) |
| Industry | 12.1% (2023 est.) |
| Services | 55.4% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 85.9% (2023 est.) |
| Government consumption | 6.6% (2023 est.) |
| Investment in fixed capital | 25.1% (2023 est.) |
| Investment in inventories | 6.6% (2023 est.) |
| Exports of goods and services | 7% (2023 est.) |
| Imports of goods and services | -34.7% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 10.69% (2023 est.) |
| Unemployment rate 2022 | 10.92% (2022 est.) |
| Unemployment rate 2021 | 12.32% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 20.4% (2023 est.) |
| Male | 18.7% (2023 est.) |
| Female | 23.3% (2023 est.) |
All Important Facts about Nepal
Want to know more about Nepal? Check all different factbooks for Nepal below.
