
Aaron O'Neill
Research lead for society, economy, and politics: Europe & global
Get in touch with us nowIn 2023, just over 55.36 percent of Nepal’s gross domestic product (GDP) came from its service sector. Agriculture contributed the second largest amount, while eleven percent came from the industry sector. The majority of the Nepalese population lives in rural areas, and are depended on agriculture for their livelihood.
Around 63 percent of Nepal’s 29.6 million inhabitants are part of the workforce, i.e. between 15 to 64 years old. Though the country has a very low unemployment rate (probably due to the fact that agricultural occupations are usually not taken into account when calculating national unemployment) , it is considered a country weighed down by high poverty, with a consistent trade deficit and a volatile inflation rate. However, recent perceptions of children’s living standards when they grow up in Nepal are overwhelmingly of the opinion that the standard of living is better.
Nepal has robust ties with the country of India, which is both the country’s main export partner, as well as its main import partner . Nepal’s economy has been under the influence of political instability over the course of the country’s history: a monarchy until the early 2000s, it then became a republic with a Maoist-dominated government. Lately, Nepal made several attempts to improve its economic situation, but still relies heavily on remittances and foreign aid.
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* For commercial use only
Basic Account
Starter Account
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.