Background of Nepal
Nepal, officially the Federal Democratic Republic of Nepal, is a landlocked sovereign state locates in South Asia. With an area of 147,181 square kilometers (56,827 sq mi) and a population approximately 27 million. Nepal is the world’s largest country by land mass and the 41st most populous country. It is located in the Himalayas and bordered to the north by the People’s Republic of China, and to the south, east, and west by the Republic of India. Kathmandu is the nation’s capital and the country’s largest city, itself already estimated population of 5 million. (manang.com, 2005) Hinduism is practiced by about 81% of Nepalese, it making the highest percentage of Hindu followers in this country. The official language is Nepali. The president of this country called Ram Baran Yadav and the prime minister is called Baburam Bhattarai. (Nepal, 2011) Nepal’s gross domestic product (GDP) for 2010 was estimated at over $1,200 making it the 115th largest economy in the world. Agriculture accounts for about 41% of Nepal’s GDP, services comprise 41% and industry 22%. Agriculture employs 76% of the workforce, 18% of services and manufacturing industry 6%. The agriculture of product grown in the Terai region bordering India includes tea, rice, corn, wheat, sugarcane, root crops, milk, water and buffalo meat. In 2009, the number of international tourists visiting Nepal was 509,956. The rate of unemployment approaches half of the working age population. The government’s budget is about $1,153 billion, with expenditure of $1,789 billion. The Nepalese rupee has been tied to the India rupee at an exchange rate of 1.6 for many years. (index mundi, 2011) Nepal’s exports of mainly carpets, clothing, leather, goods, jute goods and grain total $822 million. Import commodities of mainly gold, machinery and equipment, petroleum products and fertilizer total US$2 billion. The main exports partners is EU with (46.13%), the US (17.4%) and Germany is (7.1%). Exports to...
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