KATHMANDU: The Central Bureau of Statistics has forecast Nepal’s annual economic growth of this fiscal year will be 2.27 per cent due to the coronavirus impact.
In its national accounts statistics released today, the CBS has projected that the growth rate of the gross domestic product (GDP) will be around one-fourth of the government’s target.
The CBS estimate has been based on the supposition that international travel, tourism and the hospitality sectors would be affected by the coronavirus because of which other sectors, too, would resume their operation.
Releasing its report, the Central Bureau of Statistics (CBS), the central agency for the collection, consolidation, processing, analysis, publication and dissemination of statistics in Nepal has projected the per capita income of Nepalis to be Rs. 1, 26,018 in this Nepal year 2076.
Similarly, CBS has also corrected the average per capita income projected for the current fiscal year. It has mentioned the per capita income as USD 1039. Earlier, it had projected the PCI to remain USD 1034.
The annual growth rate of gross domestic product’s current price is expected to be 2.27% in basic price.
Analyzing the statistics of three last fiscal years, the release has concluded that contribution of Primary sector and Tertiary sector has been increasing in these years, whereas the contribution of secondary sector has declined to some extent.
CBS has divided the industrial sector into three sectors: into Primary, Secondary and Tertiary sector.
Primary Sector includes agriculture and forestry, fishery, and mining & quarrying. This sector’s contribution to GDP is estimated to be 28.20%
Secondary Sector which includes construction, manufacturing, electricity, gas and water is estimated to contribute 13.72% in GDP as per the preliminary estimation.
Tertiary Sector’s contribution to GDP is projected to be 58.08%
Tertiary sector includes wholesale and retail trade, hotel and restaurant, transportation, communication and storage, financial inter-mediation, real state, renting and business activities, public administration and defense, education, health and social work, other community, social and personal services.
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