Overview of the Nepalese Economy

Nepal is one of the least developed countries in the world and is officially the Federal Democratic Republic of Nepal. It is a landlocked country having low per capita income and mass poverty. The structure of the economy is fragile, the economic environment is less favorable, the performance of the economy is weak, and development indicators are not favorable as expected. The economy is heavily dependent on the import of basic materials and foreign employment. It imports essential commodities like fuel, construction materials, fertilizers, metals, and most consumer goods, and export products like carpets, beverages, textile, tea, and plastic. 

Furthermore, the economy of Nepal is been characterized by a long period of political transition and an uncertain economic environment. Due to such socio-economic and political hurdles, several social and economic problems like high unemployment, inequality, and poverty have existed in the country. Agriculture, a subsistence sector is the mainstay of life and is providing employment to the majority of the working force of Nepal. There is optimistic development in resource mobilization by the government of Nepal. The high remittance inflows are working as the lubricants for the sluggish/inactive economy.  Here is a brief discussion on the general overview of the Nepalese economy.

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