The Central Bureau of Statistics (CBS) Nepal publishes initial national accounts estimate of Nepal for FY 2020-21 on April 30, 2021, through a press release 2021. According to the estimates of CBS, real output is estimated to grow by 4.01 percent in 2020-21. It was contracted by 2.09 percent in the year 2019-20. Considering the basic price, it is estimated to grow by 3.98 percent in 2020-21 as compared to a contraction by 2.12 percent in the year 2019-20.
The following graph shows the estimated GDP growth rate at purchasers’ prices.
Other major estimates are presented in the table given below.
|Sectoral Growth Performance|
|Sector||Growth in FY 2020-21||Growth in FY 2019-20|
|Sectoral Contribution to GDP of Nepal|
|Other Macroeconomic Indicators|
|Gross Domestic Product (GDP) Purchaser’s Price (million)||4,266,321||3,914,701|
|Nominal Per capita GDP (US $)||1191||1126|
|Final consumption expenditure as % of GDP||93.38%||93.65%|
|Gross domestic saving as % of GDP||6.62%||6.35%|
|Gross fixed capital formation as % of GDP||27.26%||28.43%|
|Exports of goods and services as a percentage of GDP||5.08%||6.67%|
|Imports of goods and services as a percentage of GDP||32.83%||33.89%|
|Workers’ Remittances as a percentage of GDP||22.28%||22.35%|
|Sources: CBS 2021|
This estimate is based on the following assumptions
- COVID pandemic will not affect more on the economy of Nepal
- All economic activities will operate in normal condition after two weeks
- Accommodation and food service activity may take more time to operate in normal condition.
Further details are available here