A neighbour of China and India, this country was known as the Kingdom of Nepal until 2008. After which it became a republic and became part of the United Nations. It has a population of 26.4 million and is the 93rd biggest country in the world. The capital of the country is Katmandu which is situated 1,400 meters above sea level and is famous for it's picturesque views. The world's tallest point, on Mount Everest, is situated in this country.
This is a graph of Nepal's GDP over 215 years
Nepal's Economy Overview
Nepal's economy has affected a lot by the changes of its political stances which range from a monarchy to a current day communist ruling party. Hand in hand with this comes corruption which one of the nation's main concern. Nepal is an agrarian country which is not very technologically advance and a below average standard of living. With the 106th largest GDP in the world,
- GDP $67 billion (2014 est.)
- GDP growth
- 5.1% (2014 estimation)
- GDP per capita: $2400 (2014 est.)
- GDP per sector:agriculture (35%), industry (20%), services (45%) (2010 est.)
- Inflation (CPI):10.01% (mid-february 2016.)
- Population below poverty line: 25.2% (2010.)
- Main Industries: Tourism, garment, food and beverages, metal manufactures, herbs.
This is a tree map of Nepal's GDP
Nepal used to be very heavily dependent on agriculture however since 2000 the situation has improved due to the boom in the carpet and garment industry "In the fiscal year 2000-2001, exports posted a greater increase (14%) than imports (4.5%)" (Wikipedia). This helped curb their trade deficit by 4% that year.
"The annual monsoon rain, or lack of it, strongly influences economic growth. From 1996 to 1999, real GDP growth averaged less than 4%. The growth rate recovered in 1999, rising to 6% before slipping slightly in 2001 to 5.5%." This shows their strong dependence on agriculture before they diversified.