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Nepal is among the poorest and least developed country. Half of its population is below poverty level. Till 1951 Nepal was without schools, hospitals, roads, communication, electrical power, civil service as well as industry. After that Nepal Economy has come a long way. Rural developments efforts have been undertaken and government administration developed since around 1975.
The main resource of Nepal Economy is Agriculture. Around 80% of the population is involved in this activity. Nepal as a country is however not favorable for agriculture also. Only 20% area is cultivable. Rest includes forests and mountainous areas. The lowland Terai region however is very fertile. The main agricultural products include rice, maize, sugarcane, root crops. Carpet and garment industry had a rapid growth after 2000 has improved economy of Nepal.
Tourism is the main industry here, which draws foreign income. Tourism contributes to about 3% of about Nepal’s Gross Domestic product of Nepal’s economy. Other industries include rice, jute, sugar, oilseed mills, cigarette, and cement and brick production. The export commodities include Carpets, clothing, leather goods etc. Foreign donors contribute more than two thirds for the development activity in the country. Organizations like World Bank, Asian Development Bank, UN Development Program also provide assistance to Nepal.
Nepal is cutoff from world’s land, air and sea transport routes. Cargo handling facilities are very limited and airport is also outdated. The government however is taking economic reforms that encourage trade and foreign investment.
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