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Nepal economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Nepal ranked 101/197 by economy size with a GDP of $42.9B and 164/197 by GDP per capita at $1,447. Nepal has $20.7B in government debt, with a debt-to-GDP ratio of 48.3%.

In 2024, Nepal made up 0.04% of the world's economy, compared to 0.04% in 1960.

Nepal GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $42,914,268,287 3.67%
2023 $41,047,772,331 1.98%
2022 $41,182,939,601 5.63%
2021 $36,924,841,394 4.84%
2020 $33,433,659,301 -2.37%
2019 $34,186,180,699 6.66%
2018 $33,111,525,237 7.62%
2017 $28,971,588,940 8.98%
2016 $24,524,109,484 0.43%
2015 $24,360,801,287 3.98%
2014 $22,731,612,922 6.01%
2013 $22,162,204,925 3.53%
2012 $21,703,100,877 4.67%
2011 $21,573,872,421 3.42%
2010 $16,002,656,434 4.82%
2009 $12,854,985,464 4.53%
2008 $12,545,438,605 6.1%
2007 $10,325,618,017 3.41%
2006 $9,043,715,356 3.36%
2005 $8,130,258,378 3.48%
2004 $7,273,938,315 4.68%
2003 $6,330,473,097 3.95%
2002 $6,050,875,807 0.12%
2001 $6,007,055,042 4.8%
2000 $5,494,252,208 6.2%
1999 $5,033,642,384 4.41%
1998 $4,856,255,044 3.02%
1997 $4,918,691,917 5.05%
1996 $4,521,580,381 5.33%
1995 $4,401,104,418 3.47%
1994 $4,066,775,510 8.22%
1993 $3,660,041,667 3.85%
1992 $3,401,211,581 4.11%
1991 $3,921,476,085 6.37%
1990 $3,627,560,239 4.64%
1989 $3,525,225,787 4.33%
1988 $3,487,009,748 7.7%
1987 $2,957,255,380 1.7%
1986 $2,850,782,044 4.57%
1985 $2,619,913,956 6.14%
1984 $2,581,207,388 9.68%
1983 $2,447,174,803 -2.98%
1982 $2,395,423,742 3.78%
1981 $2,275,583,317 8.34%
1980 $1,945,916,583 -2.32%
1979 $1,851,250,008 2.37%
1978 $1,604,162,497 4.41%
1977 $1,382,400,000 3.02%
1976 $1,452,788,985 4.4%
1975 $1,575,789,254 1.46%
1974 $1,217,953,547 6.33%
1973 $972,101,725 -0.48%
1972 $1,024,098,400 3.12%
1971 $882,765,472 -1.2%
1970 $865,975,309 2.58%
1969 $788,641,965 4.46%
1968 $772,231,387 0.68%
1967 $841,974,025 -1.57%
1966 $906,811,944 7.04%
1965 $735,267,082 -1.2%
1964 $496,098,775 7.53%
1963 $496,947,904 1.9%
1962 $574,091,101 1.91%
1961 $531,959,562 1.91%
1960 $508,334,414 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal | CC BY

Nepal GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $1,447 $5,737
2023 $1,382 $5,395
2022 $1,386 $5,103
2021 $1,253 $4,546
2020 $1,154 $4,236
2019 $1,203 $4,261
2018 $1,179 $3,956
2017 $1,034 $3,605
2016 $877 $2,976
2015 $876 $2,957
2014 $821 $2,901
2013 $803 $2,658
2012 $788 $2,466
2011 $786 $2,248
2010 $585 $2,139
2009 $473 $2,029
2008 $465 $1,942
2007 $385 $1,809
2006 $340 $1,718
2005 $309 $1,628
2004 $279.6 $1,542
2003 $246.4 $1,453
2002 $238.9 $1,390
2001 $240.8 $1,388
2000 $223.8 $1,317
1999 $208.6 $1,234
1998 $205.1 $1,187
1997 $211.8 $1,162
1996 $198.8 $1,110
1995 $197.8 $1,058
1994 $187.3 $1,026
1993 $172.8 $952
1992 $165 $920
1991 $195.7 $889
1990 $185.8 $830
1989 $185 -
1988 $187.1 -
1987 $162 -
1986 $159.5 -
1985 $149.9 -
1984 $151.1 -
1983 $146.6 -
1982 $147 -
1981 $142.9 -
1980 $125.1 -
1979 $121.9 -
1978 $108.1 -
1977 $95.3 -
1976 $102.5 -
1975 $113.6 -
1974 $89.8 -
1973 $73.2 -
1972 $78.8 -
1971 $69.5 -
1970 $69.6 -
1969 $64.8 -
1968 $64.9 -
1967 $72.3 -
1966 $79.5 -
1965 $65.8 -
1964 $45.3 -
1963 $46.3 -
1962 $54.6 -
1961 $51.6 -
1960 $50.2 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal | CC BY

Nepal has a GDP per capita of $1,447, ranking 164/197, a GDP per capita based on purchasing power parity (PPP) of $5,737, ranking 155/197, and a median annual after tax income of $2,170, ranking 160/197.

Nepal GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 100 154 142
2023 99 163 151
2022 97 164 152
2021 98 163 153
2020 98 165 151
2019 99 165 150
2018 100 165 151
2017 103 168 153
2016 104 171 161
2015 103 175 163
2014 107 179 160
2013 106 179 164
2012 108 178 162
2011 107 176 169
2010 111 185 169
2009 113 187 169
2008 120 188 170
2007 120 188 171
2006 120 185 172
2005 119 186 171
2004 116 186 172
2003 116 186 168
2002 114 183 167
2001 110 181 166
2000 114 185 167
1999 113 183 166
1998 113 185 163
1997 114 183 162
1996 116 183 163
1995 115 183 162
1994 109 175 161
1993 109 179 160
1992 112 176 162
1991 109 175 161
1990 112 176 162
1989 102 162 -
1988 100 163 -
1987 102 161 -
1986 96 156 -
1985 94 157 -
1984 94 154 -
1983 96 153 -
1982 95 153 -
1981 96 152 -
1980 100 153 -
1979 94 145 -
1978 95 145 -
1977 94 145 -
1976 94 142 -
1975 88 141 -
1974 93 137 -
1973 88 138 -
1972 84 134 -
1971 84 137 -
1970 82 135 -
1969 80 117 -
1968 80 115 -
1967 76 114 -
1966 73 112 -
1965 76 112 -
1964 79 111 -
1963 79 111 -
1962 75 110 -
1961 73 108 -
1960 72 106 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal | CC BY

Compared with 2000, in 2024 Nepal is ranked 100th out of 182 by GDP (up from 114th), 154th by GDP per capita (up from 185th), and 142nd by GDP per capita PPP (up from 167th).

Economic indicators

Nepal Rank
Gross domestic product
$42.9B
2024
101/197
GDP growth
3.67%
2023-2024
80/194
GDP per capita
$1,447
2024
164/197
GDP per capita, PPP
$5,737
2024
155/197
Government debt
$20.7B
2024
98/185
Debt-to-GDP ratio
48.3%
2024
112/185
Government debt per person
$700
2024
154/185
Average annual personal income after taxes
$2,170
2026
160/197
Number of billionaires
2
2025
57/78
Billionaire frequency
1 in 9,139,485
2025
67/78
Income share by richest 10%
24.2%
2022
135/169
Income share by poorest 10%
3.7%
2022
27/169
Government expenditure, % of GDP
22.1%
2024
141/195
Consumer prices inflation
4.69%
2023-2024
58/195
Unemployment rate
10.7%
2017
36/196
Population
29596762
51/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 22.1% 48.3% -2.76%
2023 25.1% 47% -5.81%
2022 26.1% 42.7% -3.12%
2021 27.2% 43.3% -3.98%
2020 28.5% 43.3% -7.47%
2019 27.1% 34% -4.27%
2018 28% 31.1% -5.83%
2017 23.6% 25% -2.69%
2016 19% 25% 1.2%
2015 17.7% 25.7% 0.46%
2014 16.6% 27.6% 1.36%
2013 15.5% 31.9% 1.57%
2012 16.8% 34.5% -1.18%
2011 16.3% 32.4% -0.72%
2010 16.5% 35.4% -0.67%
2009 17% 39.5% -2.24%
2008 13.4% 36.8% -0.29%
2007 13.1% 37.9% -0.67%
2006 11.2% 42.9% 0.24%
2005 12% 45.1% 0.24%
2004 11.8% 51.3% -0.14%
2003 12% 53% -0.34%
2002 13% 51.8% -2.46%
2001 12.9% 50.8% -2.35%
2000 11.4% 50.8% -1.48%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20).

GeoRank.org/economy/nepal | CC BY

This chart shows Nepal's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 25 years, Nepal recorded a fiscal deficit in 19 of them, with an average annual deficit equal to 1.74% of GDP. In 2024, government spending reached $9.5B (22.1% of GDP), with a deficit of 2.76%.

The national debt reached $20.7B, ranking 98th out of 185 countries by total size, with a debt-to-GDP ratio of 48.3%, ranking 112th.

Inflation rate by year

1x
Year Inflation
2024 4.69%
2023 7.12%
2022 7.67%
2021 4.13%
2020 5.06%
2019 5.57%
2018 4.41%
2017 2.78%
2016 8.79%
2015 7.87%
2014 8.36%
2013 9.04%
2012 9.46%
2011 9.23%
2010 9.33%
2009 11.1%
2008 9.91%
2007 2.27%
2006 6.92%
2005 6.84%
2004 2.84%
2003 5.71%
2002 3.03%
2001 2.69%
2000 2.48%
1999 7.45%
1998 11.2%
1997 4.01%
1996 9.22%
1995 7.62%
1994 8.35%
1993 7.51%
1992 17.1%
1991 15.6%
1990 8.24%
1989 8.85%
1988 8.98%
1987 10.8%
1986 19%
1985 8.05%
1984 2.85%
1983 12.4%
1982 11.7%
1981 11.1%
1980 14.7%
1979 3.57%
1978 7.35%
1977 9.9%
1976 -3.11%
1975 7.59%
1974 19.8%
1973 11.4%
1972 8.39%
1971 -2%
1970 15.2%
1969 4.06%
1968 1.18%
1967 -2.81%
1966 14.4%
1965 8.47%

Data sources: World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06).

GeoRank.org/economy/nepal | CC BY

Over the past 20 years, Nepal has had an average annual inflation rate of 7.03%. In 2024, inflation was 4.69%. The bar chart above shows consumer price inflation by year.

Balance of trade

Nepal Rank
Current account balance
$1.68B
2024
50/190
Current account balance, % of GDP
+3.91%
2024
41/190
Goods imports
$12.1B
2024
101/189
Goods exports
$1.54B
2024
142/189
Service imports
$2.27B
2024
118/189
Service exports
$1.9B
2024
110/189
Imports of goods and services, % of GDP
32.9%
2024
116/181
Exports of goods and services, % of GDP
7.62%
2024
187/193

Nepal top 10 trading partners

Nepal's biggest trading partner accounting for 64.3% of all exports and imports is India, with a trade balance between the two of -$7.73B: Nepal exports $935M worth of goods and services to India and imports $8.67B.

Below is the list of the top 10 trade partners of Nepal.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 India $9.6B 64.3% $935M $8.67B Processed food, beverages & tobacco Raw materials & minerals
2 China $1.85B 12.4% $5.41M $1.85B Textiles & consumer goods Machinery & equipment
3 United States $440M 2.95% $147M $293M Textiles & consumer goods Raw agricultural goods
4 Indonesia $354M 2.37% $1.02M $353M Animal & marine products Processed food, beverages & tobacco
5 UAE $325M 2.17% $3.76M $321M Textiles & consumer goods Precious metals & jewellery
6 Argentina $235M 1.58% $10K $235M Textiles & consumer goods Processed food, beverages & tobacco
7 Australia $153M 1.02% $10.8M $142M Textiles & consumer goods Raw agricultural goods
8 Ukraine $137M 0.92% $7K $137M Raw agricultural goods Processed food, beverages & tobacco
9 Malaysia $125M 0.84% $1.66M $123M Processed food, beverages & tobacco Processed food, beverages & tobacco
10 Qatar $97.4M 0.65% $512K $96.9M Raw agricultural goods Precious metals & jewellery

Top 10 exports

Nepal Rank
Transport & tourism services $660M 128/188
Business & finance services $571M 87/188
Processed food, beverages & tobacco $519M 102/192
Textiles & consumer goods $437M 86/193
Raw agricultural goods $139M 114/193
IT & IP services $123M 104/183
Government & miscellaneous services $87.3M 81/180
Metals $76.5M 123/192
Chemicals & pharma $59.6M 123/193
Wood & paper products $31.7M 119/192

Top 10 imports

Nepal Rank
Raw materials & minerals $3.69B 86/193
Machinery & equipment $2.6B 116/193
Transport & tourism services $1.92B 102/188
Metals $1.59B 80/193
Chemicals & pharma $1.48B 99/193
Processed food, beverages & tobacco $1.24B 90/193
Raw agricultural goods $1.21B 75/193
Textiles & consumer goods $1.09B 95/193
Precious metals & jewellery $457M 56/193
Business & finance services $342M 123/188

Economic freedom indices

Nepal Rank
Economic freedom 52.9 144/197
Property rights 38.8 128/182
Government integrity 38.9 103/182
Judicial effectiveness 42.9 98/182
Tax burden 84.3 61/182
Government spending 82.1 58/180
Fiscal health 71 101/181
Business freedom 60.8 106/182
Labor freedom 48.2 147/182
Monetary freedom 69.4 136/180
Trade freedom 58.6 156/181
Investment freedom 10 172/181
Financial freedom 30 142/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 52.9 42.9 84.3 82.1 71
2025 52.5 43.3 83.6 79.5 65.8
2024 52.1 43.7 84.3 78.1 68.5
2023 51.4 34 85 77.2 58.9
2022 49.7 34.1 82.6 77.2 51.5
2021 50.7 34.1 83.2 73.2 61.8
2020 54.2 32 83.4 77.9 98.1
2019 53.8 34.7 84 83.7 98.5
2018 54.1 36.2 84.2 87.6 98.5
2017 55.1 32 84.9 89.5 98.4
2016 50.9 - 85.1 91.1 -
2015 51.3 - 85.6 88.9 -
2014 50.1 - 85.9 89.6 -
2013 50.4 - 85.8 89.2 -
2012 50.2 - 86 88.1 -
2011 50.1 - 86.4 88.4 -
2010 52.7 - 86.6 92.3 -
2009 53.2 - 86.3 91 -
2008 54.1 - 86.5 92 -
2007 54.4 - 86.6 92.8 -
2006 53.7 - 86.6 92.3 -
2005 51.4 - 86.6 91.3 -
2004 51.2 - 88.9 88.6 -
2003 51.5 - 88.8 90.9 -
2002 52.3 - 84 89.2 -
2001 51.6 - 84 88 -
2000 51.3 - 86.3 88 -
1999 53.1 - 83 88.4 -
1998 53.5 - 83 89.6 -
1997 53.6 - 82.9 93.5 -
1996 50.3 - 86.4 91.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/nepal | CC BY

Nepal is ranked 127/174 for economic freedom with a score of 52.9, compared to 117/162 and a score of 53.7 in 2006.

Other economic metrics

Nepal Rank
Services, % of GDP
55.2%
2024
107/191
Industry, % of GDP
11.4%
2024
178/194
Agriculture, forestry, and fishing, % of GDP
21.9%
2024
32/193
GNI, Atlas method
$43.7B
2024
97/194
GNI per capita, PPP
$5,830
2024
152/191
Total reserves including gold
$12.5B
2023
74/177
Net foreign direct investment
-$56.9M
2024
66/189
Net inflows of foreign direct investment
$56.9M
2024
153/193
Net outflows of foreign direct investment
$0
2024
155/193
Servicing debt to the IMF, % of GNI
1.23%
2024
107/121
Poverty at national poverty lines
20.3%
2022
96/176
Gross capital formation, % of GDP
30.4%
2024
31/178

Compare Nepal vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/nepal | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2023, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.