The Central Bureau of Statistics Estimates Nepalese Economy to Grow by 4.01 Percent in 2020-21

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.

GDP Growth Rate of Nepal/Image Source: CBS, 2021

Other major estimates are presented in the table given below.

Sectoral Growth Performance
SectorGrowth in FY 2020-21Growth in FY 2019-20
Agriculture Sector2.8%2.1%
Industrial Sector4.9%-3.8%
Service Sector4.4%-4%
Sectoral Contribution to GDP of Nepal
Primary Sector26%27%
Secondary Sector13%13%
Tertiary Sector61%60%
Other Macroeconomic Indicators
Gross Domestic Product (GDP) Purchaser’s Price (million)4,266,3213,914,701
Nominal Per capita GDP (US $)11911126
Final consumption expenditure as % of GDP93.38%93.65%
Gross domestic saving as % of GDP6.62%6.35%
Gross fixed capital formation as % of GDP27.26%28.43%
Exports of goods and services as a percentage of GDP5.08%6.67%
Imports of goods and services as a percentage of GDP32.83%33.89%
Workers’ Remittances as a percentage of GDP22.28%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

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