World
Development Indicators 2014 delivers a compilation of pertinent,
first-class, and globally comparable statistics on development and poverty. The
indicators are synthesized under six themes--world view, people, environment,
economy, states and markets, and global links. Other sections comprises stories
highlighting particular global, regional or country trends. The report portrays
progress of every countries including Nepal against the backdrop of development
indicators. The report compiles statistics from more than 200 countries through
a concerted effort of partners including the United Nations, the Organization
for Economic Co-operation and Development, the International Monetary Fund, and
the International Telecommunication Union.
Global poverty is reducing at faster rate. Nepal belongs to South Asia where half of the world's poor live. Growth is faster in this Asian region. As of 2012 Nepal has GDP US $ 18.96 Billion which is lowest in South Asia. However, it is on a constant rise. It means, despite all the odds, wealth is increasing in Nepal.
Over the years, per capita income is also increasing; however, not in a way as expected. Although GNI per capita is low in South Asian region, it is little bit higher than that of other low income countries. Per capita income reached to US $ 700 in 2012.
Foreign investment is crucial for Nepal's development. In fact, the low balance of payment and small reserve of foreign currency has left Nepal to seek support from foreign investors. Besides international Assistance (Aid) foreign investment is playing a crucial role for creating wealth in Nepal. So far, foreign investment was almost US $ 91 million in 2012 which was slightly less than in 2011. The following year has brought more FDI in the country.
Global poverty is reducing at faster rate. Nepal belongs to South Asia where half of the world's poor live. Growth is faster in this Asian region. As of 2012 Nepal has GDP US $ 18.96 Billion which is lowest in South Asia. However, it is on a constant rise. It means, despite all the odds, wealth is increasing in Nepal.
Over the years, per capita income is also increasing; however, not in a way as expected. Although GNI per capita is low in South Asian region, it is little bit higher than that of other low income countries. Per capita income reached to US $ 700 in 2012.
Foreign investment is crucial for Nepal's development. In fact, the low balance of payment and small reserve of foreign currency has left Nepal to seek support from foreign investors. Besides international Assistance (Aid) foreign investment is playing a crucial role for creating wealth in Nepal. So far, foreign investment was almost US $ 91 million in 2012 which was slightly less than in 2011. The following year has brought more FDI in the country.
Education sector has seen a remarkable progress. School enrollment in primary level was increased by 135% in 2013. This is almost close to attaining Millennium Development Goals.
The economic transaction of the country remained turbulent lately. It declined to almost nothing in 2010. Though, the remittance and tourism helped the economy make better saving that soared Balance of Payment (BoP).
Data from World Bank
Betterment in aforementioned indicators is one of the good news for Nepal's economy. After a long duration of stalemate, something is good is slowly happening.
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