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Economy of Nepal vs Zimbabwe compared: GDP & Debt

Updated on by Georank team

Nepal has a GDP of $42.9B compared to $41.5B for Zimbabwe, ranking 101/197 and 102/197 by economy size, respectively.

Nepal has $20.5B in government debt (49.8% of GDP), compared to $39.3B (56.1% of GDP) in Zimbabwe.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Nepal
GDP, current $

GDP, constant 2015 $
Zimbabwe
GDP, current $

GDP, constant 2015 $
Year GDP
Nepal Zimbabwe
Current $ Constant $ Current $ Constant $
1960 $508,334,414 $3,312,007,762 $1,053,528,036 $4,352,412,133
1961 $531,959,562 $3,375,209,679 $1,097,206,526 $4,627,317,329
1962 $574,091,101 $3,439,686,985 $1,118,172,226 $4,693,694,849
1963 $496,947,904 $3,504,872,894 $1,160,103,724 $4,986,785,325
1964 $496,098,775 $3,768,875,642 $1,217,759,447 $4,931,622,909
1965 $735,267,082 $3,723,528,944 $1,312,105,394 $5,173,793,733
1966 $906,811,944 $3,985,689,329 $1,282,403,936 $5,252,597,339
1967 $841,974,025 $3,923,054,321 $1,397,715,282 $5,692,082,627
1968 $772,231,387 $3,949,553,904 $1,480,355,355 $5,804,224,338
1969 $788,641,965 $4,125,839,146 $1,748,891,294 $6,525,587,027
1970 $865,975,309 $4,232,120,438 $1,885,168,339 $7,998,095,583
1971 $882,765,472 $4,181,530,377 $2,179,828,710 $8,711,332,686
1972 $1,024,098,400 $4,311,902,146 $2,679,096,597 $9,436,967,074
1973 $972,101,725 $4,291,354,369 $3,311,043,292 $9,682,773,143
1974 $1,217,953,547 $4,563,151,176 $3,984,194,614 $10,324,271,738
1975 $1,575,789,254 $4,629,612,136 $4,373,532,601 $10,124,887,003
1976 $1,452,788,985 $4,833,247,301 $4,320,576,877 $10,171,951,417
1977 $1,382,400,000 $4,979,065,088 $4,366,610,469 $9,474,084,021
1978 $1,604,162,497 $5,198,429,820 $4,353,822,343 $9,217,627,910
1979 $1,851,250,008 $5,321,574,269 $5,180,102,910 $9,521,536,366
1980 $1,945,916,583 $5,198,145,984 $6,682,278,300 $10,894,607,028
1981 $2,275,583,317 $5,631,773,978 $8,015,464,252 $12,259,202,844
1982 $2,395,423,742 $5,844,619,816 $8,544,060,905 $12,582,146,675
1983 $2,447,174,803 $5,670,601,763 $7,768,031,182 $12,781,612,134
1984 $2,581,207,388 $6,219,580,093 $6,355,369,172 $12,537,820,762
1985 $2,619,913,956 $6,601,767,395 $5,640,137,575 $13,408,495,654
1986 $2,850,782,044 $6,903,181,024 $6,220,698,247 $13,689,943,883
1987 $2,957,255,380 $7,020,232,623 $6,744,657,033 $13,847,479,160
1988 $3,487,009,748 $7,560,566,499 $7,818,774,177 $14,893,292,646
1989 $3,525,225,787 $7,887,912,410 $8,290,553,535 $15,667,709,080
1990 $3,627,560,239 $8,253,520,017 $8,788,301,546 $16,762,655,222
1991 $3,921,476,085 $8,779,116,585 $8,646,000,000 $17,689,930,170
1992 $3,401,211,581 $9,139,622,809 $6,755,000,000 $16,095,082,949
1993 $3,660,041,667 $9,491,484,581 $6,567,250,000 $16,264,301,855
1994 $4,066,775,510 $10,271,305,209 $6,894,250,000 $17,766,348,463
1995 $4,401,104,418 $10,627,560,489 $7,115,000,000 $17,794,425,481
1996 $4,521,580,381 $11,193,827,113 $8,557,500,000 $19,638,059,366
1997 $4,918,691,917 $11,758,960,073 $8,534,000,000 $20,164,466,644
1998 $4,856,255,044 $12,113,656,107 $6,405,250,000 $20,746,271,025
1999 $5,033,642,384 $12,648,180,060 $6,861,500,000 $20,576,588,256
2000 $5,494,252,208 $13,432,367,221 $6,693,250,000 $19,947,126,181
2001 $6,007,055,042 $14,077,106,360 $6,780,750,000 $20,234,268,509
2002 $6,050,875,807 $14,094,019,043 $6,345,250,000 $18,434,630,066
2003 $6,330,473,097 $14,650,033,416 $5,730,500,000 $15,301,651,167
2004 $7,273,938,315 $15,336,036,357 $5,808,500,000 $14,413,001,709
2005 $8,130,258,378 $15,869,604,827 $5,758,250,000 $13,589,857,106
2006 $9,043,715,356 $16,403,555,897 $5,446,750,000 $13,119,457,398
2007 $10,325,618,017 $16,963,173,095 $5,294,750,000 $12,640,170,700
2008 $12,545,438,605 $17,998,713,599 $4,418,000,000 $10,406,779,091
2009 $12,854,985,464 $18,814,609,456 $9,670,750,000 $11,787,972,496
2010 $16,002,656,434 $19,720,799,062 $12,047,750,000 $14,107,304,145
2011 $21,573,872,421 $20,395,607,080 $14,109,000,000 $16,109,683,000
2012 $21,703,100,877 $21,348,110,877 $17,123,500,000 $18,794,430,789
2013 $22,162,204,925 $22,100,664,485 $19,100,750,000 $19,168,343,272
2014 $22,731,612,922 $23,429,242,138 $19,505,500,000 $19,623,972,034
2015 $24,360,801,287 $24,360,801,287 $19,973,250,000 $19,973,250,000
2016 $24,524,109,484 $24,466,311,259 $20,559,250,000 $20,124,206,637
2017 $28,971,588,940 $26,662,720,369 $51,035,657,371 $21,076,969,325
2018 $33,111,525,237 $28,695,053,195 $34,141,666,667 $22,132,908,952
2019 $34,186,180,699 $30,605,298,793 $33,357,695,635 $20,731,353,612
2020 $33,433,659,301 $29,880,069,319 $31,980,334,561 $19,110,793,941
2021 $36,924,841,394 $31,325,711,777 $41,287,673,690 $20,729,099,177
2022 $41,182,939,601 $33,089,761,145 $40,757,561,709 $22,001,713,150
2023 $41,047,772,331 $33,745,781,687 $35,871,779,681 $23,178,995,952
2024 $42,914,268,287 $34,982,690,898 $41,539,411,516 $23,582,865,676

Economic indicators

Nepal Zimbabwe
Gross domestic product
$42.9B
2024
$41.5B
2024
GDP rank
101/197
2024
102/197
2024
GDP growth
4.55%
2023-2024
15.8%
2023-2024
GDP per capita
$1,447
2024
$2,497
2024
GDP per capita rank
164/197
2024
148/197
2024
GDP per capita, PPP
$5,737
2024
$5,928
2024
Government debt
$20.5B
2024
$39.3B
2024
Debt-to-GDP ratio
49.8%
2026
56.1%
2026
Government debt per person
$693
2024
$2,362
2024
Government debt per person rank
155/185
2024
115/185
2024
Average annual personal income after taxes
$2,569
2026
$2,797
2026
Market capitalization of domestic companies n/a
$2.46B
1999
Number of billionaires
2
2025
1
2025
Income share by richest 10%
24.2%
2022
40.5%
2019
Income share by poorest 10%
3.7%
2022
1.9%
2019
Government expenditure, % of GDP
24.7%
2026
18.3%
2026
Consumer prices inflation
4.69%
2023-2024
18.2%
2025-2026
Central bank interest rate n/a
35%
2024
Unemployment rate
10.7%
2017
9.29%
2023
Population
29630474
17277165

GDP per capita in Nepal vs Zimbabwe

Nepal's GDP per capita is $1,447, ranking 164/197, compared to $2,497 in Zimbabwe, ranking 148/197. Adjusted for purchasing power (GDP per capita PPP), Nepal ranks 155th at $5,737, while Zimbabwe ranks 154th at $5,928.

Nepal
GDP per capita

GDP per capita, PPP
Zimbabwe
GDP per capita

GDP per capita, PPP
Year Current $
Nepal Zimbabwe
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $50.2 - $276.6 -
1961 $51.6 - $279.2 -
1962 $54.6 - $275.7 -
1963 $46.3 - $277.1 -
1964 $45.3 - $281.9 -
1965 $65.8 - $294.3 -
1966 $79.5 - $278.7 -
1967 $72.3 - $294.4 -
1968 $64.9 - $302 -
1969 $64.8 - $346 -
1970 $69.6 - $361 -
1971 $69.5 - $406 -
1972 $78.8 - $483 -
1973 $73.2 - $579 -
1974 $89.8 - $674 -
1975 $113.6 - $717 -
1976 $102.5 - $687 -
1977 $95.3 - $677 -
1978 $108.1 - $665 -
1979 $121.9 - $779 -
1980 $125.1 - $949 -
1981 $142.9 - $1,069 -
1982 $147 - $1,096 -
1983 $146.6 - $959 -
1984 $151.1 - $757 -
1985 $149.9 - $649 -
1986 $159.5 - $693 -
1987 $162 - $726 -
1988 $187.1 - $816 -
1989 $185 - $840 -
1990 $185.8 $830 $867 $2,757
1991 $195.7 $889 $831 $2,930
1992 $165 $920 $631 $2,651
1993 $172.8 $952 $605 $2,703
1994 $187.3 $1,026 $634 $3,012
1995 $197.8 $1,058 $648 $3,051
1996 $198.8 $1,110 $767 $3,372
1997 $211.8 $1,162 $751 $3,457
1998 $205.1 $1,187 $552 $3,527
1999 $208.6 $1,234 $582 $3,491
2000 $223.8 $1,317 $563 $3,429
2001 $240.8 $1,388 $566 $3,533
2002 $238.9 $1,390 $525 $3,238
2003 $246.4 $1,453 $468 $2,708
2004 $279.6 $1,542 $470 $2,591
2005 $309 $1,628 $461 $2,496
2006 $340 $1,718 $431 $2,454
2007 $385 $1,809 $414 $2,396
2008 $465 $1,942 $341 $1,987
2009 $473 $2,029 $736 $2,233
2010 $585 $2,139 $902 $2,661
2011 $786 $2,248 $1,038 $3,047
2012 $788 $2,466 $1,239 $3,472
2013 $803 $2,658 $1,363 $3,784
2014 $821 $2,901 $1,373 $3,903
2015 $876 $2,957 $1,387 $4,046
2016 $877 $2,976 $1,408 $4,275
2017 $1,034 $3,605 $3,445 $10,756
2018 $1,179 $3,956 $2,271 $3,993
2019 $1,203 $4,261 $2,184 $4,166
2020 $1,154 $4,236 $2,060 $4,179
2021 $1,253 $4,546 $2,614 $4,827
2022 $1,386 $5,103 $2,536 $5,396
2023 $1,382 $5,395 $2,195 $5,791
2024 $1,447 $5,737 $2,497 $5,928

Spending and national debt comparison

In 2024, Nepal's government spending was $9.39B, accounting for 24.7% of its GDP, while Zimbabwe's spent $7.74B, or 18.3% of GDP.

Debt-to-GDP ratio is 49.8% in Nepal and 56.1% in Zimbabwe, ranking 113/185 and 91/185, respectively.

Nepal
Government spending

Government debt
Zimbabwe
Government spending

Government debt
Year % of GDP
Nepal Zimbabwe
Government spending Government debt Government spending Government debt
2000 11.4% 50.8% - -
2001 12.9% 50.8% - -
2002 13% 51.8% - -
2003 12% 53% - -
2004 11.8% 51.3% - -
2005 12% 45.1% 15.5% 33.1%
2006 11.2% 42.9% 8.46% 39.4%
2007 13.1% 37.9% 5.06% 44.7%
2008 13.4% 36.8% 3.75% 61.1%
2009 17% 39.5% 11.7% 58.7%
2010 16.5% 35.4% 18.4% 47.6%
2011 16.3% 32.4% 23.2% 42.9%
2012 16.8% 34.5% 20.6% 38.4%
2013 15.5% 31.9% 20.6% 37%
2014 16.6% 27.6% 20.4% 42.3%
2015 17.7% 25.7% 20.8% 48%
2016 19% 25% 23.6% 49.9%
2017 23.6% 25% 27.9% 68.9%
2018 28% 31.1% 20.3% 48.1%
2019 27.3% 34% 14.3% 82.3%
2020 27.6% 43.3% 13.8% 84.5%
2021 27.2% 43.3% 18.6% 58.2%
2022 26.1% 42.7% 21.5% 99.5%
2023 25.2% 47.1% 20% 96.6%
2024 21.9% 47.9% 18.6% 94.6%
2025 23.4% 49.4% 19.1% 58.6%
2026 24.7% 49.8% 18.3% 56.1%

Government deficit by year

In 2024, Nepal's government deficit, the difference between spending and revenue, was -$1.17B, equivalent to -2.73% of GDP. This compares to Zimbabwe's deficit of -$856M, or -2.06% of GDP.

Over the past 20 years, Nepal recorded a fiscal deficit in 14 of those years, while Zimbabwe ran a deficit in 20 years. On average, Nepal posted an annual deficit equal to -1.76% of GDP, compared to deficit of -3.07% of GDP for Zimbabwe.

Deficit/surplus
Nepal

Zimbabwe
Year Deficit/surplus, % of GDP
Nepal Zimbabwe
2000 -1.48% -
2001 -2.35% -
2002 -2.46% -
2003 -0.34% -
2004 -0.14% -
2005 0.24% -5.12%
2006 0.24% -2.07%
2007 -0.67% -2.47%
2008 -0.29% -1.77%
2009 -2.24% -2.06%
2010 -0.67% -0.15%
2011 -0.72% -2.45%
2012 -1.17% -0.18%
2013 1.57% -0.97%
2014 1.35% -1.02%
2015 0.58% -2.04%
2016 1.17% -6.59%
2017 -2.69% -10.4%
2018 -5.83% -5.57%
2019 -4.99% -2.64%
2020 -5.36% -0.49%
2021 -3.98% -3.22%
2022 -3.12% -4.88%
2023 -5.83% -5.32%
2024 -2.73% -2.06%
2025 -3.98% -0.5%
2026 -4.16% 0.44%

Inflation comparison by year

Over the past 28 years, Nepal has recorded an average annual inflation rate of 6.43%, compared with 93.4% in Zimbabwe. In 2024, inflation was 4.69% in Nepal and 18.2% in Zimbabwe.

Inflation
Nepal

Zimbabwe
Year Inflation
Nepal Zimbabwe
1997 4.01% -1%
1998 11.2% -28%
1999 7.45% -13.4%
2000 2.48% 4.5%
2001 2.69% -37.2%
2002 3.03% -34.4%
2003 5.71% -8.6%
2004 2.84% 113.6%
2005 6.84% -31.5%
2006 6.92% 33%
2007 2.27% -72.7%
2008 9.91% 157%
2009 11.1% 6.2%
2010 9.33% 3%
2011 9.23% 3.5%
2012 9.46% 3.7%
2013 9.04% 1.6%
2014 8.36% -0.2%
2015 7.87% -2.4%
2016 8.79% -1.6%
2017 2.78% 0.9%
2018 4.41% 10.6%
2019 5.57% 255.3%
2020 5.06% 557%
2021 4.13% 98.5%
2022 7.67% 193.4%
2023 7.12% 667%
2024 4.69% 736%
2025 - 89%
2026 - 18.2%

Top exports between countries

Nepal
Export category Export value
Textiles & consumer goods $2K
Metals $1K
Zimbabwe
Export category Export value
Raw agricultural goods $1K
Textiles & consumer goods $1K

Balance of trade

Nepal Zimbabwe
Current account balance
$1.68B
2024
$501M
2024
Current account balance ranking
50/190
2024
62/190
2024
Current account balance, % of GDP
+3.91%
2024
+1.21%
2024
Goods imports
$12.1B
2024
$9.06B
2024
Goods exports
$1.54B
2024
$7.79B
2024
Service imports
$2.27B
2024
$1.66B
2024
Service exports
$1.9B
2024
$457M
2024
Imports of goods and services, % of GDP
32.9%
2024
23.4%
2024
Exports of goods and services, % of GDP
7.62%
2024
18%
2024

Economic freedom indices

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

Nepal Zimbabwe
Economic freedom 52.5 35.1
Economic freedom ranking 145/197 191/197
Property rights 38.3 20.7
Government integrity 39.4 20.7
Judicial effectiveness 43.3 15.8
Tax burden 83.6 73.6
Government spending 79.5 87.6
Fiscal health 65.8 44.4
Business freedom 64.7 39.3
Labor freedom 48.3 33.2
Monetary freedom 68.2 0
Trade freedom 58.4 50.4
Investment freedom 10 25
Financial freedom 30 10

Economic freedom by year comparison

The Economic Freedom Index for Nepal is 52.5, ranking 145/197, compared to 35.1 for Zimbabwe, ranking 191/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Nepal
Zimbabwe
Year Economic freedom index
Nepal Zimbabwe
1995 - 48.5
1996 50.3 46.7
1997 53.6 48
1998 53.5 44.6
1999 53.1 47.2
2000 51.3 48.7
2001 51.6 38.8
2002 52.3 36.7
2003 51.5 36.7
2004 51.2 34.4
2005 51.4 35.2
2006 53.7 33.5
2007 54.4 32
2008 54.1 29.5
2009 53.2 22.7
2010 52.7 21.4
2011 50.1 22.1
2012 50.2 26.3
2013 50.4 28.6
2014 50.1 35.5
2015 51.3 37.6
2016 50.9 38.2
2017 55.1 44
2018 54.1 44
2019 53.8 40.4
2020 54.2 43.1
2021 50.7 39.5
2022 49.7 33.1
2023 51.4 39
2024 52.1 38.2
2025 52.5 35.1

More economic indicators

Nepal Zimbabwe
Services, % of GDP
55.2%
2024
50.6%
2024
Industry, % of GDP
11.4%
2024
35%
2024
Agriculture, forestry, and fishing, % of GDP
21.9%
2024
8.69%
2024
GNI, Atlas method
$43.7B
2024
$39.9B
2024
GNI per capita, PPP
$5,830
2024
$5,870
2024
Total reserves including gold
$12.5B
2023
$485M
2024
Total reserves ranking
74/177
2023
157/177
2024
Net foreign direct investment
-$56.9M
2024
-$465M
2024
Net inflows of foreign direct investment
$56.9M
2024
$465M
2024
Net outflows of foreign direct investment
$0
2024
$131M
2024
Servicing debt to the IMF, % of GNI
1.23%
2024
3.44%
2024
Poverty at national poverty lines
20.3%
2022
38.3%
2019
Gross capital formation, % of GDP
30.4%
2024
8.85%
2024

GDP per capita map

GDP per capita

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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.