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Macroeconomic Indicators of Seven Provinces of Nepal
The constitution of Nepal 2015 has defined Nepal as a federal democratic republican state and has divided Nepal into seven different provinces. Each province is divided into districts and each district is further divided into local levels. There are altogether 77 districts and 753 in local levels in Nepal. Out of 753 local labels, there are 460 rural municipalities, 276 municipalities, 11 sub Metropolitan cities, and six Metropolitan cities in Nepal.
Here's the updated information on the major macroeconomic indicators of the seven provinces of Nepal:
1. Size of Provincial-Level Gross Domestic Product (GDP): As of the latest data available, Bagmati Province continues to lead in GDP contribution, estimated at approximately 35.2%, while Karnali Province maintains the lowest share at around 4.6% for the fiscal year 2022-2023.
2. Growth Rate of GDP by Province: Sudurpaschim Province has exhibited the highest growth rate, reaching around 4.1%, outpacing the national GDP growth rate of 2.5%. Conversely, Bagmati Province shows a relatively lower growth rate at 1.8% for the fiscal year 2022-2023.
3. Per Capita Income by Province: Bagmati Province retains the highest per capita gross national income, now standing at approximately US dollars 2005, while Karnali Province maintains the lowest, at around US dollars 610 for the fiscal year 2021-2022.
4. Unemployment Rate by Province: The nationwide average unemployment rate stands at 10.8%. Province 2 continues to report the highest unemployment rate, estimated at around 19.5%, whereas Bagmati Province maintains the lowest rate at approximately 6.5%.
5. Province-wise Budget and Expenditure Status: The latest data indicates that Province 5 allocated the highest portion of its budget, around 32.5%, while Province 2 allocated the lowest, approximately 10.2% of the total expenditure.
Table: Major macroeconomic indicators of the seven provinces of Nepal
| Province | GDP (in NPR billions) | GDP Growth Rate (%) | Per Capita Income (USD) | HDI |
|---|---|---|---|---|
| Bagmati | 1,981 | 1.04 | $2,097 | 0.661 |
| Gandaki | 482 | 3.3 | $1,492 | 0.618 |
| Lumbini | 762 | 2.1 | $1,126 | 0.563 |
| Koshi | 849 | 2.0 | $1,299 | 0.580 |
| Karnali | 221 | 1.9 | $997 | o.538 |
| Sudurpaschim | 376 | 1.8 | $1,063 | 0.547 |
| Madhes | 707 | 1.7 | $875 | 0.510 |
| Nepal | 5,381 | 1.86 | $1,399 | 0.603 |
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