Compared to Q4 of last year, the economy grew only 0.2 percent in Q1 this year
KATHMANDU, Jan 7: Nepal’s economy grew by 3.4 percent in the first quarter (Q1) of the current fiscal year (FY) compared to the same period in the last fiscal year. Transport, storage, accommodation and food service activities were the notable contributors in this rise.
Nepal's informal economy is 41 percent of GDP
The data revealed by the National Statistics Office (NSO) on Tuesday show that the country achieved slow growth in its economy during the first three months between mid-July and mid-October of FY 2024/25. This growth rate is based on the basic price of FY 2010/11.
The growth rate, however, was only nominal if the activities in the review period were compared with the last quarter of FY 2023/24. Compared to the fourth quarter of the last fiscal year, the growth rate in the first quarter of this FY was only 0.2 percent. There were the largest negative growths of 13.9 percent in mining and quarrying, and 3.7 percent in wholesale and retail trade.
