The Gross Domestic Product (GDP) in Nepal expanded 3.90 percent in the fourth quarter of 2023 over the same quarter of the previous year. This dataset provides - Nepal GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The growth of the real gross domestic product (GDP) in Nepal was forecast to continuously increase between 2024 and 2029 by in total 1.9 percentage points. According to this forecast, in 2029, the growth will have increased for the sixth consecutive year to 5.01 percent. This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Bangladesh, Pakistan, and India.

Key information about Nepal Real GDP Growth

• The Gross Domestic Product (GDP) in Nepal expanded 0.2 % YoY in Sep 2024, following a growth of 1.3 % in the previous quarter.
• Real GDP Growth YoY data in Nepal is updated quarterly, available from Dec 2004 to Sep 2024, with an average rate of 1.2 %.
• The data reached an all-time high of 14.0 % in Sep 2020 and a record low of -10.5 % in Jun 2020.

CEIC shifts period-end for quarterly Real GDP Growth. The Central Bureau of Statistics provides Real GDP Growth Rate, at 2010-2011 producer prices. Real GDP Growth prior to Q4 2010 is based on Real GDP at 2000-2001 producer prices. Real GDP Growth is reported in quarterly frequency, ending in January, April, July and October.


Related information about Nepal Real GDP Growth

• In the latest reports, Nominal GDP of Nepal reached 40.8 USD bn in Jul 2022.
• Its GDP deflator (implicit price deflator) increased 9.1 % in Jul 2023.
• GDP Per Capita in Nepal reached 1,399.0 USD in Jul 2023.
• Its Gross Savings Rate was measured at 35.6 % in Jul 2024.
• For Nominal GDP contributions, Investment accounted for 30.5 % in Jul 2024.
• Public Consumption accounted for 6.3 % in Jul 2024.
• Private Consumption accounted for 86.1 % in Jul 2024.

The Gross Domestic Product (GDP) in Nepal was worth 40.91 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Nepal represents 0.04 percent of the world economy. This dataset provides - Nepal GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) in current prices in Nepal was forecast to continuously increase between 2024 and 2029 by in total 26.8 billion U.S. dollars (+61.37 percent). After the sixth consecutive increasing year, the GDP is estimated to reach 70.44 billion U.S. dollars and therefore a new peak in 2029. The gross domestic product at current prices is defined based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.Find more key insights for the gross domestic product (GDP) in current prices in countries like Bhutan, Sri Lanka, and Afghanistan.

Nepal GDP: Growth Rate data was reported at 6.437 % in Jan 2019. This records a decrease from the previous number of 6.897 % for Oct 2018. Nepal GDP: Growth Rate data is updated quarterly, averaging 4.742 % from Oct 2005 (Median) to Jan 2019, with 54 observations. The data reached an all-time high of 13.940 % in Jul 2014 and a record low of -6.073 % in Jan 2016. Nepal GDP: Growth Rate data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Nepal – Table NP.A001: SNA93: GDP Growth Rate.

In 2023, just over 55.36 percent of Nepal’s gross domestic product (GDP) came from its service sector. Agriculture contributed the second largest amount, while eleven percent came from the industry sector. The majority of the Nepalese population lives in rural areas, and are depended on agriculture for their livelihood. A struggling but strong population Around 63 percent of Nepal’s 29.6 million inhabitants are part of the workforce, i.e. between 15 to 64 years old. Though the country has a very low unemployment rate (probably due to the fact that agricultural occupations are usually not taken into account when calculating national unemployment) , it is considered a country weighed down by high poverty, with a consistent trade deficit and a volatile inflation rate. However, recent perceptions of children’s living standards when they grow up in Nepal are overwhelmingly of the opinion that the standard of living is better. The Nepalese economy Nepal has robust ties with the country of India, which is both the country’s main export partner, as well as its main import partner . Nepal’s economy has been under the influence of political instability over the course of the country’s history: a monarchy until the early 2000s, it then became a republic with a Maoist-dominated government. Lately, Nepal made several attempts to improve its economic situation, but still relies heavily on remittances and foreign aid.

Nepal GDP: Growth Rate: sa: Mining and quarrying data was reported at 5.682 % in Jan 2019. This records a decrease from the previous number of 15.033 % for Oct 2018. Nepal GDP: Growth Rate: sa: Mining and quarrying data is updated quarterly, averaging 2.239 % from Jan 2005 (Median) to Jan 2019, with 57 observations. The data reached an all-time high of 55.714 % in Apr 2016 and a record low of -20.455 % in Jul 2010. Nepal GDP: Growth Rate: sa: Mining and quarrying data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Nepal – Table NP.A002: SNA93: GDP Growth Rate: Seasonally Adjusted.

In 2023, India’s real gross domestic product (GDP) growth rate was around 8.15 percent, the highest in South Asia. In contrast, Nepal reported the lowest real GDP growth rate in the region at approximately 1.95 percent that year, but it was forecasted to increase by 2.5 times to nearly 4.9 percent in 2025.Economy in South Asia In general, South Asia encompasses Sri Lanka, Pakistan, Afghanistan, Bangladesh, Nepal, India and Bhutan. In 2020, India had a GDP of over 2.6 trillion U.S. dollars, while Bangladesh and Sri Lanka followed. The Maldives and Bhutan were among the countries with the lowest GDP in the Asia-Pacific region. In South Asia, the main economic activities include the services sector as well as the industrial and manufacturing sectors.Society in South AsiaFrom the South Asian countries, Bangladesh had the highest share of people living below the poverty line. The Maldives and Sri Lanka exhibited the highest and second-highest GDP per capita among the South Asian countries in 2021.

The Gross Domestic Product per capita in Nepal was last recorded at 1136.09 US dollars in 2023. The GDP per Capita in Nepal is equivalent to 9 percent of the world's average. This dataset provides - Nepal GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nepal GDP: Growth Rate: Fishing data was reported at 1.303 % in Jan 2019. This records a decrease from the previous number of 3.255 % for Oct 2018. Nepal GDP: Growth Rate: Fishing data is updated quarterly, averaging 6.113 % from Oct 2005 (Median) to Jan 2019, with 54 observations. The data reached an all-time high of 12.135 % in Jan 2016 and a record low of 1.303 % in Jan 2019. Nepal GDP: Growth Rate: Fishing data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Nepal – Table NP.A001: SNA93: GDP Growth Rate.

In 2019, the average inflation rate in Nepal was at 4.64 percent, a slight drop compared to the previous year. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities, and raw materials (e.g. gas, oil), as well as federal fees and taxes.

Political and economic turmoil

The Nepalese economy is heavily influenced by the country’s political situation. It has made only slow progress in connecting with the global economy and improving the standard of living for its inhabitants but is now finally picking up speed. Nepal’s economy is not stable yet: Inflation is decreasing but all over the place – usually a sure sign of a struggling economy – and GDP growth is also not steady and forecast to decrease again in the future. Additionally, Nepal’s trade deficit seems to be in free fall.

Move to the city

A quarter of Nepal’s, mostly rural, population is living below the poverty line, but Nepal is working on improving their outlook in the future. Today, agriculture contributes about a third to the country’s GDP, and a sizeable share of commodity exports consists of agricultural products – but already the lion’s share of Nepal’s GDP is generated by the services sector, like tourism and textiles. By shifting GDP generation to services, and consequently creating jobs in the cities and attracting more people to urban areas, Nepal might finally be able to stabilize its economy and provide better living standards for its inhabitants.

The growth of the real gross domestic product (GDP) in Bhutan was forecast to increase between 2024 and 2029 by in total two percentage points. This overall increase does not happen continuously, notably not in 2026 and 2027. The growth is estimated to amount to 7.16 percent in 2029. As described by the International Monetary Fund, this indicator describes the annual change in the gross domestic product at constant prices. This is expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Bangladesh, Nepal, and Sri Lanka.

Nepal GDP: Growth Rate: sa: Fishing data was reported at -0.070 % in Jan 2019. This records a decrease from the previous number of 0.421 % for Oct 2018. Nepal GDP: Growth Rate: sa: Fishing data is updated quarterly, averaging 1.438 % from Jan 2005 (Median) to Jan 2019, with 57 observations. The data reached an all-time high of 3.717 % in Oct 2015 and a record low of -0.070 % in Jan 2019. Nepal GDP: Growth Rate: sa: Fishing data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Nepal – Table NP.A002: SNA93: GDP Growth Rate: Seasonally Adjusted.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Nepal (RGDPL2NPA625NUPN) from 1960 to 2010 about Nepal, PPP, domestic, per capita, GDP, and rate.

GDP from Agriculture in Nepal increased to 701396 NPR Million in 2023 from 680667 NPR Million in 2022. This dataset provides - Nepal Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nepal GDP: Growth Rate: Wholesale and retail trade data was reported at 13.631 % in Jan 2019. This records a decrease from the previous number of 15.711 % for Oct 2018. Nepal GDP: Growth Rate: Wholesale and retail trade data is updated quarterly, averaging 4.950 % from Oct 2005 (Median) to Jan 2019, with 54 observations. The data reached an all-time high of 33.447 % in Oct 2016 and a record low of -19.681 % in Oct 2015. Nepal GDP: Growth Rate: Wholesale and retail trade data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Nepal – Table NP.A001: SNA93: GDP Growth Rate.

The ratio of national debt to gross domestic product (GDP) in Nepal was forecast to decrease between 2024 and 2029 by in total 1.3 percentage points. This overall decrease does not happen continuously, notably not in 2026. According to this forecast, in 2029, the ratio will have decreased for the third consecutive year to 48.44 percent. Depicted here is the general government gross debt in relation to the country's GDP. According to the International Monetary Fund, gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. The GDP, on the other hand, refers to the total value of final goods and services produced during a year.Find more key insights for the ratio of national debt to gross domestic product (GDP) in countries like Bhutan, Bangladesh, and India.

The ratio of government expenditure to GDP in Nepal was forecast to continuously increase between 2024 and 2029 by in total 1.9 percentage points. According to this forecast, in 2029, the ratio will have increased for the fifth consecutive year to 25.9 percent. This indicator depicts the general government expenditure as a share of the national gross domestic product. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.Find more key insights for the ratio of government expenditure to GDP in countries like Bhutan, Pakistan, and Sri Lanka.

Nepal GDP: Gross Domestic Product (GDP): at Basic Prices data was reported at 5,050,092.317 NPR mn in 2024. This records an increase from the previous number of 4,738,940.693 NPR mn for 2023. Nepal GDP: Gross Domestic Product (GDP): at Basic Prices data is updated yearly, averaging 2,865,792.359 NPR mn from Jul 2011 (Median) to 2024, with 14 observations. The data reached an all-time high of 5,050,092.317 NPR mn in 2024 and a record low of 1,436,072.193 NPR mn in 2011. Nepal GDP: Gross Domestic Product (GDP): at Basic Prices data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Nepal – Table NP.A003: SNA08: GDP: by Industry: Current Price.