Nepal GDP Annual Growth Rate2021 Data - 2022 Forecast - 1993-2020 Historical

Name: Nepal GDP Annual Growth Rate
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Keywords: Nepal,GDP Annual Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2021,2022,2023

The Gross Domestic Product (GDP) in Nepal expanded 4 percent in the 2020/2021 fiscal year. source: Central Bureau of Statistics, Nepal

GDP Annual Growth Rate in Nepal averaged 4.35 percent from 1993 until 2020, reaching an all time high of 8.60 percent in 1993 and a record low of -2.10 percent in 2019. This page provides - Nepal GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nepal GDP Annual Growth Rate - values, historical data and charts - was last updated on June of 2022.

GDP Annual Growth Rate in Nepal is expected to reach 1.50 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nepal GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022 and 4.50 percent in 2023, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Annual Growth Rate	4.00	-2.10	percent	Dec 2020
Gross Fixed Capital Formation	815592.00	765957.00	NPR Million	Dec 2020
GDP From Utilities	31954.99	29659.39	NPR Million	Dec 2020
GDP From Transport	117549.26	110772.82	NPR Million	Dec 2020
GDP From Services	331114.98	314532.84	NPR Million	Dec 2020
GDP From Public Administration	105144.00	101595.00	NPR Million	Dec 2020
GDP From Mining	15905.47	14796.59	NPR Million	Dec 2020
GDP From Manufacturing	118119.70	113737.69	NPR Million	Dec 2020
GDP From Construction	153253.39	145183.18	NPR Million	Dec 2020
GDP From Agriculture	644585.77	628013.87	NPR Million	Dec 2020

Nepal GDP Annual Growth Rate

Nepal is one of the least developed countries in the world and relies extensively on foreign aid. The main sector of the economy is agriculture, which employs over 70 percent of the population and accounts for 33 percent of GDP. As Nepal is home to the highest mountains in the world, tourism has been steadily growing in importance and is an important source of revenue. Also, the country has been working on exploiting hydroelectric power. Although Nepalese economy has been steadily growing in recent years, lack of governmental institutions, growing population and remnants of social instability are sources of concern.