An isolated, agrarian society until the mid-20th century, Nepal entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. The country has, however, made progress toward sustainable economic growth since the 1950s and is committed to a program of economic liberalization.

Nepal has used a series of five-year plans in an attempt to make progress in economic development. It completed its ninth economic development plan in 2002; its currency has been made convertible, and 17 state enterprises have been privatized. Foreign aid to Nepal accounts for more than half of the development budget. Government priorities over the years have been the development of transportation and communication facilities, agriculture, and industry. Since 1975, improved government administration and rural development efforts have been emphasized.

Agriculture remains Nepal’s principal economic activity, employing 70% of the population and providing 37% of GDP. Only about 20% of the total area is cultivable; another 33% is forested; most of the rest is mountainous. Rice and wheat are the main food crops. The lowland Terai region produces an agricultural surplus, part of which supplies the food-deficient hill areas.

GDP                       $67 billion (2014 est.)

GDP Growth        5.1% (2014 estimation)

Key Products:

  • Export promotion Centre
  • Readymade Garments
  • Herbal Products
  • Gurkha Knife
  • Pashmina Products
  • Handicraft Items
  • Wooden Handicraft Products
  • Handicraft product of wooden, Felt and Cotton Products

Key Participants:

  • Trade and Export promotion centre
  • Shepra Outdoor sports industry
  • Makalu Jadi Buti Production Pvt. Ltd.
  • Silver Palace
  • The Himal Clothing & Handicraft
  • Nepal Pashmina Craft
  • Ratna Silver Craft
  • R.S. Wood Carving Products
  • Samasthi  Handicraft Udyog

History & Relationship with us:

Indias GDP Growth

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