Other political or pressure groups: numerous small, left-leaning student groups in the capital; Indian merchants in Tarai and capital; several small, radical Nepalese antimonarchist groups operating from north India
Member of: ADB, CCC, Colombo Plan, ESCAP, FAO, G-77, IBRD, ICAO, IDA,
IFAD, IFC, ILO, IMF, IMO, INTERPOL, IPU, IRC, ITU, NAM, SAARC, UN,
UNESCO, UPU, WHO, WMO, WTO
Diplomatic representation: Ambassador Mohan Man SAINJU; Chancery at 2131
Leroy Place NW, Washington DC 20008; telephone (202) 667-4550; there is a
Nepalese Consulate General in New York;
US—Ambassador Julia Chang BLOCH; Embassy at Pani Pokhari, Kathmandu;
telephone [977] 411179 or 412718, 411601
Flag: red with a blue border around the unique shape of two overlapping right triangles; the smaller, upper triangle bears a white stylized moon and the larger, lower triangle bears a white 12-pointed sun
- Economy Overview: Nepal is among the poorest and least developed countries in the world with a per capita income of only $158. Real growth averaged 4% in the 1980s until FY89, when it plunged to 1.5% because of the ongoing trade/transit dispute with India. Agriculture is the mainstay of the economy, providing a livelihood for over 90% of the population and accounting for 60% of GDP and about 75% of exports. Industrial activity is limited, and what there is involves the processing of agricultural produce (jute, sugarcane, tobacco, and grain). Apart from agricultural land and forests, the only other exploitable natural resources are mica, hydropower, and tourism. Despite considerable investment in the agricultural sector, production in the 1980s has not kept pace with the population growth of 2.7%, which has led to a reduction in exportable surpluses and balance-of-payments difficulties. Economic prospects for the 1990s remain grim.
GDP: $2.9 billion, per capita $158; real growth rate 1.5% (FY89)
Inflation rate (consumer prices): 8.1% (FY89 est.)
Unemployment rate: 5%; underemployment estimated at 25-40% (1987)
Budget: revenues $296 million; expenditures $635 million, including capital expenditures of $394 million (FY89 est.)
Exports: $374 million (f.o.b., FY89 est.), but does not include unrecorded border trade with India; commodities—clothing, carpets, leather goods, grain; partners—India 38%, US 23%, UK 6%, other Europe 9% (FY88)