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Economy of Nepal vs Russia compared: GDP & Debt

Updated on by Georank

Nepal has a GDP of $45.5B compared to $2.56T for Russia, ranking 102/197 and 8/197 by economy size, respectively.

Nepal has $21.9B in government debt (48.1% of GDP), compared to $440B (17.2% of GDP) in Russia.

Nepal vs Russia GDP by year

Nepal
Russia
1x
Year GDP, current $
Nepal Russia
2025 $45,489,810,283 $2,561,310,169,359
2024 $43,298,911,700 $2,186,462,268,813
2023 $41,049,329,851 $2,046,284,838,151
2022 $41,182,939,520 $2,292,495,097,681
2021 $36,924,841,394 $1,829,186,719,575
2020 $33,433,659,301 $1,493,075,894,362
2019 $34,186,180,699 $1,693,115,002,708
2018 $33,111,525,237 $1,657,328,773,461
2017 $28,971,588,940 $1,574,199,360,089
2016 $24,524,109,484 $1,276,786,350,881
2015 $24,360,801,287 $1,363,482,182,198
2014 $22,731,612,922 $2,059,241,589,895
2013 $22,162,204,925 $2,292,470,078,346
2012 $21,703,100,877 $2,208,293,553,878
2011 $21,573,872,421 $2,045,922,753,398
2010 $16,002,656,434 $1,524,916,715,224
2009 $12,854,985,464 $1,222,645,900,056
2008 $12,545,438,605 $1,660,848,058,303
2007 $10,325,618,017 $1,299,703,478,482
2006 $9,043,715,356 $989,932,071,353
2005 $8,130,258,378 $764,015,973,481
2004 $7,273,938,315 $591,016,690,732
2003 $6,330,473,097 $430,347,420,185
2002 $6,050,875,807 $345,470,494,418
2001 $6,007,055,042 $306,602,070,621
2000 $5,494,252,208 $259,710,142,197
1999 $5,033,642,384 $195,907,128,351
1998 $4,856,255,044 $270,955,486,862
1997 $4,918,691,917 $404,928,954,192
1996 $4,521,580,381 $391,724,890,744
1995 $4,401,104,418 $395,537,185,735
1994 $4,066,775,510 $395,077,301,248
1993 $3,660,041,667 $435,083,713,851
1992 $3,401,211,581 $460,290,556,901
1991 $3,921,476,085 $517,962,962,963
1990 $3,627,560,239 $517,014,446,228
1989 $3,525,225,787 $506,631,299,735
1988 $3,487,009,748 $554,828,660,436
1987 $2,957,255,380 -
1986 $2,850,782,044 -
1985 $2,619,913,956 -
1984 $2,581,207,388 -
1983 $2,447,174,803 -
1982 $2,395,423,742 -
1981 $2,275,583,317 -
1980 $1,945,916,583 -
1979 $1,851,250,008 -
1978 $1,604,162,497 -
1977 $1,382,400,000 -
1976 $1,452,788,985 -
1975 $1,575,789,254 -
1974 $1,217,953,547 -
1973 $972,101,725 -
1972 $1,024,098,400 -
1971 $882,765,472 -
1970 $865,975,309 -
1969 $788,641,965 -
1968 $772,231,387 -
1967 $841,974,025 -
1966 $906,811,944 -
1965 $735,267,082 -
1964 $496,098,775 -
1963 $496,947,904 -
1962 $574,091,101 -
1961 $531,959,562 -
1960 $508,334,414 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

GDP per capita in Nepal vs Russia by year

Nepal
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nepal Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,536 - $17,847 -
2024 $1,460 $5,737 $15,219 $47,362
2023 $1,382 $5,395 $14,227 $44,269
2022 $1,386 $5,103 $15,894 $40,939
2021 $1,253 $4,546 $12,637 $38,638
2020 $1,154 $4,236 $10,280 $31,491
2019 $1,203 $4,261 $11,640 $30,964
2018 $1,179 $3,956 $11,399 $28,629
2017 $1,034 $3,605 $10,835 $25,778
2016 $877 $2,976 $8,804 $24,012
2015 $876 $2,957 $9,427 $23,994
2014 $821 $2,901 $14,277 $25,688
2013 $803 $2,658 $15,941 $26,020
2012 $788 $2,466 $15,402 $24,274
2011 $786 $2,248 $14,305 $22,790
2010 $585 $2,139 $10,675 $20,490
2009 $473 $2,029 $8,563 $19,390
2008 $465 $1,942 $11,635 $20,164
2007 $385 $1,809 $9,101 $16,648
2006 $340 $1,718 $6,920 $14,912
2005 $309 $1,628 $5,323 $11,822
2004 $279.6 $1,542 $4,102 $10,227
2003 $246.4 $1,453 $2,975 $9,255
2002 $238.9 $1,390 $2,378 $8,037
2001 $240.8 $1,388 $2,100 $7,361
2000 $223.8 $1,317 $1,772 $6,825
1999 $208.6 $1,234 $1,331 $5,914
1998 $205.1 $1,187 $1,835 $5,465
1997 $211.8 $1,162 $2,738 $5,700
1996 $198.8 $1,110 $2,644 $5,518
1995 $197.8 $1,058 $2,666 $5,613
1994 $187.3 $1,026 $2,662 $5,734
1993 $172.8 $952 $2,931 $6,420
1992 $165 $920 $3,099 $6,862
1991 $195.7 $889 $3,490 $7,858
1990 $185.8 $830 $3,494 $8,028
1989 $185 - $3,430 -
1988 $187.1 - $3,778 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

Nepal's GDP per capita is $1,536, ranking 165/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Nepal ranks 155th at $5,737, while Russia ranks 50th at $47,362.

Economic indicators

Nepal Russia
Gross domestic product
$45.5B
2025
$2.56T
2025
GDP rank
102/197
2025
8/197
2025
GDP growth
4.43%
2024-2025
1%
2024-2025
GDP per capita
$1,536
2025
$17,847
2025
GDP per capita rank
165/197
2025
68/197
2025
GDP per capita, PPP
$5,737
2024
$47,362
2024
GDP per capita PPP rank
155/197
2024
50/197
2024
Government debt
$21.9B
2025
$440B
2025
Debt-to-GDP ratio
48.1%
2025
17.2%
2025
Government debt per person
$740
2025
$3,068
2025
Government debt per person rank
154/185
2025
105/185
2025
Average annual personal income after taxes
$1,743
2026
$11,183
2026
Market capitalization of domestic companies n/a
$650B
2023
Number of millionaires n/a
447,000
2026
Number of billionaires
2
2026
147
2026
Income share by richest 10%
24.2%
2022
25.1%
2023
Income share by poorest 10%
3.7%
2022
3.1%
2023
Government expenditure, % of GDP
21.8%
2025
39.1%
2025
Consumer prices inflation
2.65%
2024-2025
8.7%
2024-2025
Central bank interest rate n/a
14.5%
2026
Unemployment rate
10.7%
2017
2.13%
2025
Population
29619950
142643173

Spending and national debt comparison by year

Nepal
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Nepal Russia
Government spending Government debt Government spending Government debt
2025 21.8% 48.1% 39.1% 17.2%
2024 21.8% 48.3% 36.7% 14.8%
2023 25.1% 47% 36.1% 15.2%
2022 26.1% 42.7% 35.1% 15.1%
2021 27.2% 43.3% 34.9% 16.5%
2020 28.5% 43.3% 39.2% 19.2%
2019 27.1% 34% 33.8% 13.7%
2018 28% 31.1% 32.6% 13.6%
2017 23.6% 25% 34.8% 14.3%
2016 19% 25% 36.6% 14.8%
2015 17.7% 25.7% 35.3% 15.3%
2014 16.6% 27.6% 34.9% 15.1%
2013 15.5% 31.9% 34.7% 12.3%
2012 16.8% 34.5% 34% 11.2%
2011 16.3% 32.4% 33.3% 10.3%
2010 16.5% 35.4% 35.5% 10.1%
2009 17% 39.5% 38.6% 9.92%
2008 13.4% 36.8% 32% 7.45%
2007 13.1% 37.9% 31.9% 8.03%
2006 11.2% 42.9% 29% 9.8%
2005 12% 45.1% 29.5% 14.9%
2004 11.8% 51.3% 29.6% 20.8%
2003 12% 53% 32.6% 28.3%
2002 13% 51.8% 33.8% 37.6%
2001 12.9% 50.8% 31.5% 44.4%
2000 11.4% 50.8% 30.7% 55.9%
1999 - - 34.3% 92.4%
1998 - - 39.7% 135.2%
1997 - - - 51.5%
1996 - - - 51.9%
1995 - - - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

In 2025, Nepal's government spending was $9.93B, accounting for 21.8% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 48.1% in Nepal and 17.2% in Russia, ranking 110/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Nepal

Russia
1x
Year Deficit/surplus, % of GDP
Nepal Russia
2025 -1.86% -3.9%
2024 -2.46% -1.59%
2023 -5.81% -2.24%
2022 -3.12% -1.34%
2021 -3.98% 0.78%
2020 -7.47% -3.99%
2019 -4.27% 1.93%
2018 -5.83% 2.92%
2017 -2.69% -1.47%
2016 1.2% -3.67%
2015 0.46% -3.39%
2014 1.36% -1.07%
2013 1.57% -1.16%
2012 -1.18% 0.38%
2011 -0.72% 1.43%
2010 -0.67% -3.19%
2009 -2.24% -5.89%
2008 -0.29% 4.55%
2007 -0.67% 5.59%
2006 0.24% 7.8%
2005 0.24% 7.6%
2004 -0.14% 4.57%
2003 -0.34% 1.35%
2002 -2.46% 0.67%
2001 -2.35% 2.99%
2000 -1.48% 3.11%
1999 - -3.59%
1998 - -7.42%
1997 - -
1996 - -
1995 - -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

In 2025, Nepal's government deficit, the difference between spending and revenue, was $845M, equivalent to 1.86% of GDP. This compares to Russia's deficit of $100B, or 3.9% of GDP.

Over the past 26 years, Nepal recorded a fiscal deficit in 20 of those years, while Russia ran a deficit in 12 years. On average, Nepal posted an annual deficit equal to 1.73% of GDP, compared to surplus of 0.49% of GDP for Russia.

Inflation comparison by year

Inflation
Nepal

Russia
1x
Year Consumer prices inflation
Nepal Russia
2025 2.65% 8.7%
2024 4.69% 8.4%
2023 7.12% 5.9%
2022 7.67% 13.7%
2021 4.13% 6.7%
2020 5.06% 3.4%
2019 5.57% 4.5%
2018 4.41% 2.9%
2017 2.78% 3.7%
2016 8.79% 7%
2015 7.87% 15.5%
2014 8.36% 7.8%
2013 9.04% 6.8%
2012 9.46% 5.1%
2011 9.23% 8.4%
2010 9.33% 6.8%
2009 11.1% 11.6%
2008 9.91% 14.1%
2007 2.27% 9%
2006 6.92% 9.7%
2005 6.84% 12.7%
2004 2.84% 10.9%
2003 5.71% 13.7%
2002 3.03% 15.8%
2001 2.69% 21.5%
2000 2.48% 20.8%
1999 7.45% 85.7%
1998 11.2% 27.7%
1997 4.01% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

Over the past 29 years, Nepal has recorded an average annual inflation rate of 6.3%, compared with 13.2% in Russia. In 2025, inflation was 2.65% in Nepal and 8.7% in Russia.

Top exports between countries

Nepal
Export category Export value
Raw agricultural goods $674K
Textiles & consumer goods $609K
Chemicals & pharma $52K
Precious metals & jewellery $47K
Metals $18K
Machinery & equipment $13K
Wood & paper products $11K
Animal & marine products $1K
Russia
Export category Export value
Raw agricultural goods $10.7M
Processed food, beverages & tobacco $3.89M
Transport & tourism services $1.41M
Machinery & equipment $926K
Wood & paper products $519K
Chemicals & pharma $344K
Manufacturing & construction services $270K
Miscellaneous $233K
Business & finance services $129K
Raw materials & minerals $117K

Balance of trade

Nepal Russia
Current account balance
$1.68B
2024
$43.1B
2025
Current account balance ranking
47/190
2024
14/190
2025
Current account balance, % of GDP
+3.88%
2024
+1.68%
2025
Goods imports
$12.1B
2024
$305B
2025
Goods exports
$1.54B
2024
$422B
2025
Service imports
$2.27B
2024
$94.8B
2025
Service exports
$1.9B
2024
$46.3B
2025
Imports of goods and services, % of GDP
33.7%
2025
15.5%
2025
Exports of goods and services, % of GDP
8.83%
2025
18.2%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Nepal Russia
Economic freedom 52.9 50.3
Economic freedom ranking 144/197 161/197
Property rights 38.8 18.6
Government integrity 38.9 22.8
Judicial effectiveness 42.9 22.8
Tax burden 84.3 81.9
Government spending 82.1 61.3
Fiscal health 71 94.4
Business freedom 60.8 51.4
Labor freedom 48.2 59.1
Monetary freedom 69.4 61.8
Trade freedom 58.6 69.4
Investment freedom 10 30
Financial freedom 30 30

Economic freedom comparison by year

Nepal
Russia
1x
Year Economic freedom index
Nepal Russia
2026 52.9 50.3
2025 52.5 51.6
2024 52.1 52
2023 51.4 53.8
2022 49.7 56.1
2021 50.7 61.5
2020 54.2 61
2019 53.8 58.9
2018 54.1 58.2
2017 55.1 57.1
2016 50.9 50.6
2015 51.3 52.1
2014 50.1 51.9
2013 50.4 51.1
2012 50.2 50.5
2011 50.1 50.5
2010 52.7 50.3
2009 53.2 50.8
2008 54.1 49.8
2007 54.4 52.2
2006 53.7 52.4
2005 51.4 51.3
2004 51.2 52.8
2003 51.5 50.8
2002 52.3 48.7
2001 51.6 49.8
2000 51.3 51.8
1999 53.1 54.5
1998 53.5 52.8
1997 53.6 48.6
1996 50.3 51.6
1995 - 51.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

The Economic Freedom Index for Nepal is 52.9, ranking 144/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nepal Russia
Services, % of GDP
54.4%
2025
58.9%
2025
Industry, % of GDP
12.1%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
21.6%
2025
3.06%
2025
GNI, Atlas method
$46.5B
2025
$2.33T
2025
GNI per capita, PPP
$6,250
2025
$49,220
2025
Total reserves including gold
$21.1B
2025
$608B
2024
Total reserves ranking
65/177
2025
6/177
2024
Net foreign direct investment
-$56.9M
2024
-$12.4B
2025
Net inflows of foreign direct investment
$56.9M
2024
-$9.35B
2024
Net outflows of foreign direct investment
$0
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
1.22%
2024
2.63%
2024
Poverty at national poverty lines
20.3%
2022
7.2%
2024
Gross capital formation, % of GDP
29.4%
2025
25.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/nepal/russia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2022, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.