Traditional Culture Encyclopedia - Travel guide - Why does Nepal have a high proportion of tertiary industry?

Why does Nepal have a high proportion of tertiary industry?

Nepal is an agricultural country, and 9% of its economic population lives in rural areas or small towns. The gross domestic product (GDP) is mainly composed of agriculture and its related industries. The proportion of agriculture in GDP was as high as 69% in 1974/75. With the development of public facilities, businesses, hotels, transportation and service industries, this proportion has dropped to 56% in 199/91, but it still ranks first. Agricultural production has always been supported by the government, but its mode of production is still relatively backward and the level of agricultural mechanization is low. The development of manufacturing industry has been slow, which is mainly composed of carpet, clothing and handicraft industry, accounting for 5.4% of GDP in 199/91. Nepal's economic growth rate is relatively low, with an average annual growth rate of 2.3% during the fifth five-year plan period (1974-1979/8), mainly due to the quality of agricultural harvest. The economic growth rate in 1989/9 was only 3.6%. Nepal's per capita income is lower than the international standard. In 1988, the per capita income was $18. According to the report of the National Planning Commission of Nepal, 43% of the people live below the poverty line. The income of the top 1% families accounts for 47% of the total income, while the income of the bottom 2% families accounts for only 4.6% of the total income, which shows that the polarization between the rich and the poor is serious. In 198s, due to a large amount of foreign capital inflow, Nepal's investment reached a level close to that of other developing countries. During the sixth five-year plan (198/81-1984/85), foreign capital accounted for 53% of the government's development expenditure, and during the seventh five-year plan (1985/86-1989/9), this proportion rose to 7%.

how does Nepal's economy develop?

Nepal is an agricultural country and one of the least developed countries in the world. Agriculture is the lifeblood of Nepal's economy and the largest industry, accounting for 56% of the GDP. Although Nepal is classified as an economically poor country, its rich natural resources and abundant agricultural harvest have improved its overall international viability. The good performance of small-scale industries, construction, transportation and financial sectors has laid a broad foundation for economic development. The manufacturing and construction industries also showed a healthy development momentum. In the past few years, Nepal's economy has shown a strong growth momentum. Among them, foreign trade, hotel industry and catering industry have developed most rapidly. India is Nepal's largest trading partner, and China is now Nepal's second largest trading partner. According to the statistics of China Customs, the bilateral trade volume in 26 was US$ 268 million, accounting for about 9% of's total foreign trade. Nepal's main export products are carpets, garments, beans, raw hemp, leather, gold and silver jewelry, handicrafts, cashmere shawls, ghee and so on. Since the early 199s, Nepal has implemented a "free, open and export-oriented" economic policy to attract foreign investment, and most industries are open to the outside world. By September 1996, 316 foreign investment projects had been approved, with a total cost of about 78 million US dollars, with India, China and Japan ranking the top three. Manufacturing, service and tourism are the main areas of foreign investment. Tourism is also a pillar industry of Nepal's economic development, and its output value accounts for about 29% of the national GDP. The pleasant climate and beautiful natural scenery make Nepal rich in tourism resources. The highest number of foreign tourists has reached more than 6, person-times per year. In recent years, affected by the political turmoil, the tourism industry has experienced a serious decline, with an average annual number of visitors of only over 2,.