A 7.8-magnitude earthquake in Nepal on Saturday claimed the lives of at least 3,000 people and injured thousands. The destruction, centered around Kathmandu, will no doubt will have far-ranging implications for the country’s fragile economy. Here’s a look at five different facts about the Nepalese economy.
1. Nepal centers around an agrarian economy
Agriculture is the lynchpin of the country’s economy and employs approximately 75% of its population of 27 million. Meanwhile, the country’s Gross Domestic Product is $66 billion, according to a 2014 estimate by the CIA. That’s up from $63 billion in 2013 and $61 billion in 2012.
“Agriculture is the mainstay of the economy, providing a livelihood for more than 70% of the population and accounting for a little over one-third of GDP,” according to the CIA. “Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain.”
2. One-quarter of…
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