How international conflicts affects on Nepalese economy: A short review

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-Amit Rai

Nepal is located between two giant economy nations, India and China. That’s why, Nepalese economy always influenced by these two economies and by other third countries too. Due to Covid -19, economic growth of Nepalese economy was halted and in the process of recovering. Economic growth is targeted for 8.5 % (15thplan), 9% (MTER), and 10.5% (25 YR Long term goal plan). Around, 60% of 30 million populations are working abroad and contribution of remittance inflow stands 24% of total GDP in FY 2078/79. 

Currently, the world is facing Russia – Ukrain war since 2022. Nepal is also one of the victim country and facing price rise of import products like petroleum, medicines and more. Nepal is import based country and 80% of demand is fulfilled by import. Hence, Nepal imports large quantity of goods from India, china and foreign countries.

The war disturbs the logistic chain supply of world’s economy and broke the supply chain. In result, the prices of import goods are hike and need to pay much money for purchase it. Thus the inflations rate is also increased in Nepal.


Nepal is mostly influenced by Indian economy. It is pegged economy with India that means Nepalese economy is depends upon Indian economy. Nepalese currency’s foreign exchange rate is determined in Indian economy. Hence, most of the inflation is import by India. This results if anything happens in international markets, it directly affected. 


 

Location: Nepal

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