of the population is undernourished
partly because of poor distribution. Since May 1991, the government has been
encouraging privatization and foreign investment. It has introduced policies
to eliminate many business licenses and registration requirements in order
to simplify domestic and foreign investment procedures. Economic prospects
for the 1990s remain poor because the economy starts from such a low base.
GDP:
exchange rate conversion - $3.2 billion, per capita $165; real growth rate
3.5% (FY91)
Inflation rate (consumer prices):
15.0% (December 1991)
Unemployment rate:
5%; underemployment estimated at 25-40% (1987)
Budget:
revenues $294.0 million; expenditures $624.0 million, including capital
expenditures of $396 (FY92 est.)
Exports:
$180 million (f.o.b., FY91) but does not include unrecorded border trade
with India
commodities:
clothing, carpets, leather goods, grain
partners:
US, India, Germany, UK
Imports:
$545 million (c.i.f., FY91 est.)
commodities:
petroleum products 20%, fertilizer 11%, machinery 10%
partners:
India, Singapore, Japan, Germany
External debt:
$2.5 billion (April 1990 est.)
Industrial production:
growth rate 6% (FY91 est.); accounts for 7% of GDP
Electricity:
280,000 kW capacity; 540 million kWh produced, 30 kWh per capita (1990)
Industries:
small rice, jute, sugar, and oilseed mills; cigarette, textile, carpet,
cement, and brick production; tourism
Agriculture:
accounts for 60% of GDP and 90% of work force; farm products - rice, corn,
wheat, sugarcane, root crops, milk, buffalo meat; not self-sufficient in
food, particularly in drought years
Illicit drugs:
illicit producer of cannabis for the domestic and international drug markets
Economic aid:
US commitments, including Ex-Im (FY70-89), $304 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1980-89), $2,230 million; OPEC
bilateral aid (1979-89), $30 million; Communist countries (1970-89), $286
million

:Nepal Economy

Currency:
Nepalese rupee (plural - rupees); 1 Nepalese rupee (NR) = 100 paisa
Exchange rates:
Nepalese rupees (NRs) per US$1 - 42.7 (January 1992), 37.255 (1991), 29.370
(1990), 27.189 (1989), 23.289 (1988), 21.819 (1987)
Fiscal year:
16 July - 15 July

:Nepal Communications

Railroads:
52 km (1990), all 0.762-meter narrow gauge;