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, bananas (2023).
More about the economy of Nepal
| Labor force | 8.435 million (2024 est.) |
|---|---|
| Industrial production growth rate | 0.1% (2024 est.) |
| Industries | tourism, carpets, textiles, small rice, jute, sugar, oilseed mills, cigarettes, cement and brick production |
| Population below poverty line | 20.3% (2022 est.) |
| Taxes and other revenues | 17.5% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Nepalese rupees (NPR) per US dollar - |
| Exchange rates 2024 | 133.727 (2024 est.) |
| 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.) |
| Debt - external | |
| Debt - external 2023 | $5.719 billion (2023 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 2024 | $1.954 billion (2024 est.) |
| Current account balance 2023 | $146.66 million (2023 est.) |
| Current account balance 2022 | -$3.088 billion (2022 est.) |
| Public debt | |
| Public debt 2021 | 39.9% of GDP (2021 est.) |
| Budget | |
| Revenues | $7.625 billion (2021 est.) |
| Expenditures | $7.163 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 33.1% of GDP (2024 est.) |
| Remittances 2023 | 25.3% of GDP (2023 est.) |
| Remittances 2022 | 22% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 3.7% (2022 est.) |
| Highest 10% | 24.2% (2022 est.) |
| Imports | |
| Imports 2024 | $17.777 billion (2024 est.) |
| Imports 2023 | $13.877 billion (2023 est.) |
| Imports 2022 | $15.227 billion (2022 est.) |
| Imports (partners) | India 71%, China 17%, UAE 3%, Singapore 2%, Germany 1% (2023) |
| Comodities Imports force | refined petroleum, natural gas, garments, iron reductions, broadcasting equipment (2023) |
| Exports | |
| Imports 2024 | $17.777 billion (2024 est.) |
| Imports 2023 | $13.877 billion (2023 est.) |
| Imports 2022 | $15.227 billion (2022 est.) |
| Exports (partners) | India 67%, USA 12%, Germany 3%, China 2%, UK 2% (2023) |
| Comodities Exports force | knotted carpets, garments, flat-rolled iron, synthetic fibers, palm oil (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $149.643 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $144.352 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $141.546 billion (2022 est.) |
| GDP (official exchange rate) | $42.914 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $5,000 (2024 est.) |
| Real GDP per capita 2023 | $4,900 (2023 est.) |
| Real GDP per capita 2022 | $4,800 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 21.9% (2024 est.) |
| Industry | 11.4% (2024 est.) |
| Services | 55.2% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 86.3% (2024 est.) |
| Government consumption | 7.4% (2024 est.) |
| Investment in fixed capital | 24.3% (2024 est.) |
| Investment in inventories | 6.1% (2024 est.) |
| Exports of goods and services | 7.6% (2024 est.) |
| Imports of goods and services | -32.9% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 10.8% (2024 est.) |
| Unemployment rate 2023 | 10.7% (2023 est.) |
| Unemployment rate 2022 | 10.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 20.8% (2024 est.) |
| Male | 19.3% (2024 est.) |
| Female | 23.6% (2024 est.) |
All Important Facts about Nepal
Want to know more about Nepal? Check all different factbooks for Nepal below.
