If you are a regular visitor to this blog then you should know that I have covered a lot about the economic recession that is going on at this moment in the whole world. When we’re talking about the global recession, most of the time, mainstream media talk about rich and developed countries like
Current Condition of
I feel that the condition of
Until now, there is little indication that the economy of
Nepalese Economy: Some Basic Information
First of all, if you do not have idea about the exporting activities of the country then I would like you to visit this link: Economy of Nepal. Carpets and Ready Made Garments (RMG) are two of the most important exporting commodities. Apart from that, the country also exports from other agricultural items. Also, tourism is a very important source of earning foreign exchange just like manpower export to
Impact of Recession on Export Sector
The positive thing for Nepalese economy until now is that export revenue for the first four months of the current fiscal year has increased significantly. However, you have to remember that the economic recession has started to hurt the global economy seriously in the last few months.
You may have doubts whether the export revenue will be seriously affected but I have no doubt that tourism of the country will suffer because of the economic recession. I could see a report today that that arrival of tourists in January 2009 decreased sharply (15.8% less compared to the same period of last year). Most tourists come from the neighboring countries like
This is a sector which has surely been affected by the global economic recession already in
The only respite that can come to Nepalese economy is perhaps the decrease in global fuel price. In the last 3 years, the people in this country suffered a lot. Many times, they went to the street to protest against high fuel price. Well, the government was helpless too as
(This entry was originally posed in February 2009. It got deleted for technical problem. Now, I am again posting it today).
I have tried to analyze the possible impact of global economic recession on Nepalese economy. Do you agree with my analysis? Do you have anything more to add? Please, do it by leaving a comment.