Comparison of Nepalese economy with SAARC and China

Comparison of Nepalese economy with SAARC and China:

The following table presents the comparative status of Nepal’s economic growth with SAARC member countries and China:

The above Table shows that for the year 2004, China achieved economic growth of 10.1 percent and took first place in SAARC countries. Maldives, Afghanistan, and India had growth rates of 9.5 percent, 8 percent, and 7.8 percent placing second, third and fourth places respectively. For the year 2005; Afghanistan had economic growth of 14 percent and took first place in SAARC countries. China, India, and Pakistan had growth rates of 10.4 percent, 9.2 percent, and 8 percent placing second, third and fourth places respectively. For the year 2006; Maldives had economic growth of 16.1 percent and took first place in SAARC countries.

Bhutan, China, and India had growth rates of 13.7 percent, 10.7 percent, and 9.2 percent placing second, third and fourth positions respectively. The economic growth rate for neighboring countries, India and China, has been encouraging for the year 2007 and 2008. China achieved growth rates of 13 percent and 9.6 respectively in these two consecutive years, while growth rates for India in the same period was 9.4 percent and 7.3 percent respectively. The economic growth rate for the year 2009 is estimated to be relatively lower for both these countries with 8.7 percent for China and 5.7 percent for India. The trend of economic growth in other countries of the South Asian Association for Regional Cooperation (SAARC) has been mixed for those years.