First Business News Portal in English from Nepal
KATHMANDU: Nepal’s gross domestic product is expected to grow at 4.01 per cent to swell to Rs 4.26 trillion (in basic price) during the fiscal 2020-21, as per the Central Bureau of Statistics (CBS).
Unveiling the National Account Estimates today, CBS stated that the economic growth rate in the last fiscal year will remain negative of 2.12 percent while the growth rate in 2018-18 was 6.39 percent.
While agriculture, forestry and fishing sector will grow by 2.64 percent, the non-agricultural sector is estimated to grow by 4.57 percent.
Along with the expansion in GDP, per capita income of Nepalis is expected to rise to $1,191 in this fiscal from $1,126 till the last fiscal year. Similarly, nominal per capita (GNI) is expected to reach $1,196 from $1,139.
The CBS report shows that export of goods and services accounts for 5.08 percent of the country’s GDP while import of goods and services have reached to 32.83 percent of the GDP. However, accommodation and food service activity may take more time to operate in normal condition, states the report.
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