Flag description:
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 Nepal
Economy - overview:
Nepal is among the poorest and least developed countries in the
world with 40% of its population living below the poverty line.
Agriculture is the mainstay of the economy, providing a livelihood
for over 80% of the population and accounting for 40% of GDP.
Industrial activity mainly involves the processing of agricultural
produce including jute, sugarcane, tobacco, and grain. Security
concerns in the wake of the Maoist conflict have led to a decrease
in tourism, a key source of foreign exchange. Nepal has considerable
scope for exploiting its potential in hydropower and tourism, areas
of recent foreign investment interest. Prospects for foreign trade
or investment in other sectors will remain poor, however, because of
the small size of the economy, its technological backwardness, its
remoteness, its landlocked geographic location, its civil strife,
and its susceptibility to natural disaster.
GDP (purchasing power parity):
$39.53 billion (2004 est.)
GDP - real growth rate:
3% (2004 est.)
GDP - per capita:
purchasing power parity - $1,500 (2004 est.)
GDP - composition by sector: agriculture: 40% industry: 20% services: 40% (2002 est.)
Labor force: 10 million note: severe lack of skilled labor (1996 est.)
Labor force - by occupation:
agriculture 81%, industry 3%, services 16%
Unemployment rate:
47% (2001 est.)