1.Overview of Nepal
Nepal used to be an isolated and agrarian society, however, since 1950s the country started to make a progress towards economic liberalisation leading to economic growth and improvement in living standards. The biggest challenge for the economic development is frequent changes in political leadership.
GDP per capita vs. GNI per capita
Nepal - $694.10, 730
Japan - $38,633.71, 38840
Nepal's GDP was worth 20.88 billion US dollars in 2015. This value represents 0.03% of the world economy. (The U.S. GDP represents 16.14%)
GDP per capita for Nepal was recorded at 689.50 US dollars in 2015, and it is equivalent to 5% of the world's average.
Mortality rate, under 5 (per 1000 live births)
Health Indicator...measures population health and/or health system performance and characteristics. (e.g.infant mortality measures death of children under age of one)
Education indicator...measures basic construct in education and is useful in a policy context. (e.g.Attendance in Higher Education)
For Economic Growth:
- Physical Capital
- Human Capital
- Appropriate New Tech Development
- Institutional Change
- Empowerment of woman
- Micro-finance +credit
- Appropriate Tech
Key Challenges of WT.Trade (Barriers)
- Reliance on primary industries...heavily influenced by price. Hard to differentiate product.
- Lack of access
- Free Trade