Nepal Rastra Bank has published a report of the current macroeconomic and financial situation of Nepal. It is based on the annual data of the year 2018/19. The report shows a deficit in balance of payment of Rs. 67.40 billion. The growth rate in GDP is estimated at 7.1 percent. Likewise, inflation stood at 4.6 percent.
The table below shows the macroeconomic and financial situation of Nepal based on major indicators.
Major Macroeconomic and Financial Indicators of Nepal, 2018/19
|GDP Growth Rate||7.1 percent|
|Growth in Import||13.9 percent|
|Growth in Export||19.4 percent|
|Growth in Remittance||16.5 percent|
|Balance of Payment||67.40 billion (Deficit)|
|Growth of Broad Money (M2)||15.80 percent|
|Gross Foreign Exchange Reserve||Rs. 1038.92 billion|
|Growth in Deposits at BFIs||18 percent|
|Growth in Bank Credit||19.4 percent|
|Total Deposits at BFIs||Rs. 3235 billion|
|Total Credit by BFIs||Rs. 2866 billion|
Contribution of different sectors in the GDP
The share of Agriculture in the GDP stands at 27 percent as of 2018/19. Similarly, the service sector remains the highest contributor to the GDP of Nepal. Until the year 2018/19, service sector occupies 57.80 percent share in the GDP. Likewise, the industrial sector has 15.20 percent share in the GDP.
|Sector||Share in GDP* (in %)|
Number of Banks & Financial Institutions and their branches
As of Mid-July 2019, the number of banks & financial institutions has increased to 171 from 151 a year ago. The number of commercial banks remains constant at 28. The development and finance companies have declined in number. However, the microfinance institutions have increased from 65 to 90 in a period of the year.
The total branches of BFIs have surged from 6,651 to 8,686 as of Mid-July 2019.
Presence of Commercial Banks at Local Levels
Commercial Banks have reached 735 local levels as of Mid-July 2019. In the previous year, the number of local levels penetrated by commercial bank branches stood at 631. Out of a total of 753 local levels, still, 18 are void of the banking services.