Publication:
Nepal Development Update, October 2023: Restoring Export Competitiveness

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-10-10T12:40:30Z
dc.date.available2023-10-10T12:40:30Z
dc.date.issued2023-10-10
dc.description.abstractReal GDP growth decreased to an estimated 1.9 percent in FY23, the lowest rate since FY20 and substantially below the 10-year average growth rate. Monetary tightening and the effects of import restrictions contributed to the slowdown. Economic activity was particularly subdued in the industry and services sectors, while agricultural output remained more resilient. Strong energy sector growth helped to avoid an industrial contraction, since manufacturing and construction outputs shrank. Hydroelectric generation increased significantly for the second year in row and added close to 500 megawatts of hydroelectric power to the national grid. Nepal nevertheless remains a net energy importer. Slow credit growth and import restrictions contributed to a reduction in private investment on the demand side. Lower capital expenditure and revenue underperformance drove lower public investment. As a result, total investment decreased by more than 10 percent, a sharper reduction than in FY20. Private consumption remained robust, owing to strong remittance inflows.en
dc.identifierhttp://documents.worldbank.org/curated/en/099100523002572115/P50091006d639c04b0b55b03668d54f7662
dc.identifier.doi10.1596/40442
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40442
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectREAL SECTOR
dc.subjectEXTERNAL SECTOR
dc.subjectMONETARY AND FINANCIAL SECTOR
dc.subjectFISCAL SECTOR
dc.subjectPRODUCTIVITY CHALLENGES
dc.subjectEXPORT COMPETITIVENESS
dc.titleNepal Development Update, October 2023en
dc.title.subtitleRestoring Export Competitivenessen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleNepal Development Update, October 2023: Restoring Export Competitiveness
okr.date.disclosure2023-10-10
okr.date.lastmodified2023-10-05T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099100523002572115/P50091006d639c04b0b55b03668d54f7662
okr.guid099100523002572115
okr.identifier.docmidP500910-6d639ca8-2d41-444b-b55b-3668d54f7662
okr.identifier.doihttp://dx.doi.org/10.1596/40442
okr.identifier.externaldocumentum34175317
okr.identifier.internaldocumentum34175317
okr.identifier.report185100
okr.import.id1964
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099100523002572115/pdf/P50091006d639c04b0b55b03668d54f7662.pdfen
okr.region.administrativeSouth Asia
okr.region.countryNepal
okr.topicInternational Economics and Trade::Export Competitiveness
okr.unitEFI-SAR-MTI-PS-1 (ESAC1)
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