Nepal’s Economy Shows Notable Growth in FY 2081/82: GDP Size Estimated at Rs 61 Trillion

Nepal’s economy is projected to witness notable improvement in the current fiscal year 2081/82 compared to the previous year, according to preliminary data released by the National Statistics Office on Wednesday. The Gross Domestic Product (GDP) at consumer prices is estimated to reach Rs 61 trillion and 7 billion this fiscal year.

The revised figure for FY 2080/81 puts the GDP at Rs 57 trillion and 9 billion, while it stood at Rs 53 trillion and 67 billion in FY 2079/80. These GDP estimates are presented at both basic and consumer prices, with the current market price method used for measurement.

According to Madhu Sudan Burlakoti, Chief Statistician at the National Statistics Office, the economic indicators signal a positive shift. “While the growth rate had been declining in previous years, the current fiscal year shows a recovery across multiple sectors. Although agriculture has slightly declined, non-agriculture sectors have demonstrated stronger growth,” he said.

The preliminary estimate suggests an economic growth rate of 3.99% at basic prices and 4.61% at consumer prices for FY 2081/82. This marks an improvement from the revised growth rate of 3.36% in FY 2080/81 and 2.29% in FY 2079/80 (at basic prices). Similarly, the consumer price growth rates stood at 3.67% in FY 2080/81 and 1.98% in FY 2079/80.

These figures are based on constant prices of FY 2067/68, which are used to accurately measure real economic growth.

In terms of broad industrial categories, the non-agriculture sector is expected to grow by 4.28% in FY 2081/82, surpassing the agriculture sector's 3.28% growth. In comparison, the previous fiscal year saw 3.35% growth in agriculture and 3.36% in non-agriculture, while FY 2079/80 recorded 3.02% and 1.98% growth, respectively.

Out of 21 major economic activities classified under the fourth version of the International Standard Industrial Classification (ISIC), wholesale and retail trade is anticipated to be the top contributor to GDP, with a 14.55% share. Electricity and gas are expected to record the highest growth in value addition at 13.82%, followed by transport and storage at 9.45%.

Electricity and gas are projected to contribute 1.73% to GDP, thanks to growing hydropower production and rising energy consumption. In contrast, education (1.98%) and mining and quarrying (1.99%) are expected to register the slowest growth.

The agriculture, forestry, and fisheries sector is projected to contribute 25.16% to GDP, while trade follows with 14.55%. Water supply, sewerage, and waste management (0.42%) and mining and quarrying (0.46%) are projected to have the smallest contributions.

The total output at basic prices in FY 2081/82 is expected to reach Rs 92 trillion and 46.55 billion, up from the revised Rs 87 trillion and 80.77 billion in FY 2080/81.

Total national savings are projected to be 36.24% of GDP in the current fiscal year, an increase from 35.39% in FY 2080/81 and 33.91% in FY 2079/80.

Remittances are projected to make up 25.89% of GDP in FY 2081/82, a slight increase from 25.32% in FY 2080/81 and 23.12% in FY 2079/80.

Per capita gross national income is estimated to rise to USD 1,517 this fiscal year, up from a revised USD 1,467 last year and USD 1,410 in FY 2079/80. Likewise, per capita GDP is projected at USD 1,496 in FY 2081/82, compared to USD 1,443 in FY 2080/81 and USD 1,393 in FY 2079/80.

Nepal’s economy, while still navigating challenges, is showing signs of gradual stabilization and recovery, primarily driven by non-agricultural sectors, improved power generation, and sustained remittance inflows.