Economy of Nepal
E
conomy – overview:
Nepal is one of the poorest and least developed countries in the world, nearly a quarter of the population lives below the poverty line.
Agriculture is the mainstay of the economy, providing a livelihood for three-quarters of the population and about one-third of GDP.
Industrial activity mainly involves the processing of agricultural products including jute, sugarcane, tobacco, and grain.
During the global economic downturn in 2009, remittances from foreign workers abroad increased by 47% to $ 2.8 billion,…
Economy of Nepal
N
epal – predominantly an agricultural country. Among the least developed countries.
Agriculture
The share of agriculture in GDP is 38%, employing three-quarters of the workforce. Cultivated land covers one-fifth of the country, 50% of the arable land is in Fig. In 2005 rice harvest was 4.1 million tons. Also grown potatoes (1.7 million tonnes), wheat and sugar cane. Agriculture Nepal poorly mechanized and does not provide domestic needs of the country. The forest area in Nepal is 33% of the territory from 1950 to 1980 it fell by almost half. Wood harvested mainly…