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World Bank has recently published a complete scenario of economic status in South Asian Region and Developing Nations. Based on that information, here are some extract on where where does Economic Status of Nepal stand in 2015 – explore major economic indicators in the statistical graphs.
Growth in South Asia rose to an estimated 5.5 percent in 2014 from a 10-year low of 4.9 percent in 2013. The upturn was driven by India, the region’s largest economy, which emerged from two years of modest growth. Regional growth is projected to rise to 6.8 percent by 2017, as reforms ease supply constraints in India, political tensions subside in Pakistan, remittances remain robust in Bangladesh and Nepal, and demand for the region’s exports firms. Past adjustments have reduced vulnerability to financial market volatility. Risks are mainly domestic and of a political nature. Sustaining the pace of reform and maintaining political stability are key to maintaining the recent growth momentum. – WorldBank
Without any doubt, Nepal has the highest remittance inflows among all other South Asian countries so high that even if we sum remittance inflows of any other two countries it would not equal Nepal’s. World Bank Remittances Database has clear picture on where does Nepal stand in terms of its national income.
Another interesting World Bank and World Development Indicator “Electricity losses” where Nepal has topped the chart again. Electricity transmission and distribution losses are substantial at our part of the world, hence Nepal has experienced over 18 hours of power cut (loadshedding). Chandan Sapkota has more on this.
The share of manufacturing in GDP 2013 according to Haver and World Bank is as expected with China leading the manufacturing bandwagon, followed by Malaysia and Indonesia. And as always Nepal is nowhere existent – have we seen some “manufacturing” things in Nepal?
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Source of stats & graphs: Regional Outlook SAR, WorldBank 2015