INDICATORS OF NEPALESE ECONOMY (Updated 2024)

INDICATORS OF NEPALESE ECONOMY

1. GDP and Economic Growth: The GDP of Nepal in current prices was worth 40.8 billion USD in 2022. The economy saw improved growth in the first half of FY24 (H1FY24) compared to FY23, rebounding from a low of 1.9 percent in FY23 to a forecast of 3.3 percent in FY24.

2. Gross National Income (GNI): Gross National Income is the value of all the final goods and services produced in a country plus the net factor income from abroad within a year. The value of GNI in 2023 was reported at 5,424,268.113 NPR million, showing a significant increase from the previous years.

3. Unemployment: According to the latest data from "Tradingeconomics", the unemployment rate in Nepal increased to 5.10 percent in 2021. This is a significant decrease from the 11.4 percent reported in 2017/18.

4. Per Capita Income (GNP Per Capita): It is the total GNP divided by the total population of a country. It represents an average income of an individual in a particular year. For the year 2022, the GNP Per Capita of Nepal was 1083.03 USD.

5. Balance of Trade (BOT): It is the difference between the value of the country’s exports and imports for a given period. If export exceeds import then it is called trade surplus and if import exceeds export then it is called a trade deficit. In March of 2024, Nepal recorded a trade deficit of 123818.50 NPR Million.

6. Poverty: The estimated poverty headcount ratio (percentage of the population living below the national poverty line) was 20.27 percent in 2023, showing a slower decline than expected from the 18.7 percent in 2018.