overlapping right triangles; the smaller, upper triangle bears a white
stylized moon and the larger, lower triangle bears a white 12-pointed sun

_*_Economy
_#_Overview: Nepal is among the poorest and least developed countries
in the world with a per capita income of less than $200. Real growth
averaged 4% in the 1980s until FY89, when it plunged to 1.5% because of
a trade/transit dispute with India. Though the impasse is over,
political turmoil and inflated energy costs will probably constrain
growth to under 4%. Agriculture is the mainstay of the economy,
providing a livelihood for over 90% of the population and
accounting for 60% of GDP. Industrial activity is limited, mainly
involving the processing of agricultural produce (jute, sugarcane,
tobacco, and grain). Production of textiles and carpets has expanded
recently and accounted for 87% of foreign exchange earnings in FY89.
Apart from agricultural land and forests, the only other exploitable
natural resources are mica, hydropower, and tourism. Agricultural
production in the late 1980s grew by about 5%, compared
with a population growth of 2.6%. Forty percent or more of the
population is undernourished partly because of poor distribution.
Economic prospects for the 1990s are poor, with economic growth
probably outpacing population growth only slightly.

_#_GDP: $3.0 billion, per capita $160; real growth rate 2.1% (FY90)

_#_Inflation rate (consumer prices): 10.0% (FY90 est.)

_#_Unemployment rate: 5%; underemployment estimated at 25-40% (1987)

_#_Budget: revenues $316.5 million; expenditures $618.5 million,
including capital expenditures of $398 (FY91 est.)

_#_Exports: $125 million (f.o.b., FY90), but does not include
unrecorded border trade with India;

commodities--clothing, carpets, leather goods, grain;

partners--India 38%, US 23%, UK 6%, other Europe 9% (FY88)

_#_Imports: $454.3illion (c.i.f., FY90 est.);

commodities--petroleum products 20%, fertilizer 11%, machinery 10%;

partners--India 36%, Japan 13%, Europe 4%, US 1% (FY88)

_#_External debt: $2.5 billion (April 1990 est.)

_#_Industrial production: growth rate 6% (FY90 est.); accounts
for 7% of GDP

_#_Electricity: 280,000 kW capacity; 540 million kWh produced,
30 kWh per capita (1990)

_#_Industries: small rice, jute, sugar, and oilseed mills; cigarette,
textiles, carpets, cement, brick; tourism

_#_Agriculture: accounts for 60% of GDP and 90% of work force