Includes historical data for Nepal’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Federalist System Unleashes Economic Growth
Nepal’s transition from its previous centralized system to federalism in 2015 marked a historic moment for this country of just over 30 million. The shift was aimed at addressing cultural autonomy and giving local governments more control over resources and infrastructure development. Nepal boasts immense hydropower potential, while the tourism, manufacturing and information technology sectors hold promise. Buoyed by Nepal’s strategic location between India and China, a reflection of this newfound optimism has also been seen in the uptick in foreign direct investment (FDI) experienced in recent years.
Yet, hurdles stemming from endemic corruption, infrastructural deficiencies and bureaucratic red tape persist. Nepal’s mountainous terrain and landlocked status further complicate matters, and the heavy reliance on the Indian economy for imports and exports adds to the challenge. The talent drain, particularly among educated youth seeking opportunities abroad, pose an additional concern.
Macroeconomy & Sovereign Data
| Type of Government | Federal parliamentary republic |
|---|---|
| Capital | Kathmandu |
| Sovereign Ratings |
S&P: Not rated Moody’s: Not rated Fitch: Not rated |
| Total Population | 31 million |
| Median Age | 24.4 |
| Adult Per Capita Income (PPP) | 8,062.24 |
| Total GDP (2023) | USD 43.5 billion |
Nepal GDP & Economic Overview
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Trade & Investment
| Total Exports | USD 12 billion (2022) |
|---|---|
| Leading Exports |
Refined Petroleum Iron Broadcasting Equipment Natural Gas Rice |
| Total Imports | USD 1.4 billion (2022) |
| Leading Imports |
Soybean Oil Palm Oil Clothing And Apparel Carpets Nutmeg |
| Source: | World Integrated Trade Solution |
Nepal Leading Companies
| Nepal Investment Bank | Financials |
|---|---|
| Nabil Bank | Financials |
| CG Corp Global Ltd. | Consumer Staples, Food Distribution |
| Nepal Airlines | Transportation, Airlines |
| Chaudhary Group | Conglomerates, Financials, Consumer Electronics, Hotels, Restaurants & Leisure |
Major Trade Partners — Import
| India | 60.5% |
|---|---|
| China | 15.1% |
| Argentina | 2.9% |
| United Arab Emirates | 2.6% |
| Indonesia | 2.3% |
Major Trade Partners — Export
| India | 80.1% |
|---|---|
| United States | 8.0% |
| Germany | 1.8% |
| United Kingdom | 1.4% |
| Türkiye | 1.3% |
Global Finance Rankings & Awards
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000