Negative GDP and The Growth Rate of Different Sectors

gdp

The growth rate of communication and information technology in Nepal’s gross domestic product (GDP) is 2.3 percent. Preliminary data released by the National Bureau of Statistics (NBS) on Thursday shows the results.

While the overall GDP of the Fiscal Year 2076/77 was negative at 1.88 percent. In the previous fiscal year, the GDP growth rate was 6.66 percent while the growth rate of the information and communication sector was 7.05 percent.

At current prices, the economic activity in the information and communication sector was estimated at Rs. 186.82 billion last fiscal year. According to the statistics of the department, Rs. 109.65 billion has been spent for that.

In this regard, the information and communication sector has contributed a total of Rs. 77.16 billion to the GDP. Overall, Nepal’s total GDP is Rs 39.43 billion 656 million.

Preliminary figures show that the information and communication sector contributed 2.22 percent to Nepal’s GDP last fiscal year.

According to the statistics, the five sectors that contribute the most to GDP are agriculture (26.01 percent), motorcycles (14.93 percent), real estate (9.11 percent), education (8.29 percent), and public administration and defense and compulsory social security (7.95 percent).

Author

Pooja Shrestha

Pooja is the Business Analyst at InfoTechs Nepal. A Computer Engineering graduate, she is an amazing content creator who gives life to our book of ideas. She adds the creative punch to our social media posts, videos, and blogs. She is also a fabulous artist by passion.