Third quarter review: 6.8 percent economic growth estimation
May 27, 2019 | Investopaper
According to the third quarter review of Monetary Policy published by Nepal Rastra Bank, the economic growth rate for this year is 6.81 percent which is below the target of 8 percent previously set for the year.
The table below shows the economic growth rate of three fiscal years along with the sectoral breakdown from agriculture, non-agriculture, industry, and service sector. The stats are as per the provisional estimate of the Central Bureau of Statistics.
Economic Growth Rate (in percent)
Particulars | 2073/74 | 2074/75 | 2075/76* |
Economic growth rate | 7.74 | 6.3 | 6.81 |
Agriculture | 5.2 | 2.79 | 5.03 |
Non-agriculture | 9 | 7.69 | 7.48 |
Industry | 12.4 | 9.59 | 8.15 |
Service | 8.09 | 7.16 | 7.29 |
Similarly, the table below shows the breakdown of the economic situation of 7 provinces. Province 3 boasts 35.4 percent of total GDP share while Karnali has the least contribution to GDP growth.
Economic situation of 7 provinces
Province | Economic growth rate (%) | GDP share(%) |
1 | 6.5 | 16.1 |
2 | 6.5 | 13.6 |
3 | 7 | 35.4 |
Gandaki | 7.1 | 9.4 |
5 | 7.4 | 14.3 |
Karnali | 5.7 | 4 |
Far Western | 6.3 | 7.2 |
Nepal | 6.8 | 100 |
The other major indicators of the economic situation of the country like the Consumer Price Index (CPI) is 4.2 percent while per capita income is 1034 USD.