Bagmati province estimated to have the highest contribution to national GDP

KATHMANDU: Bagmati Province is estimated to have above one-third contribution to the gross domestic product (GDP) at the national level in the current fiscal year. According to a study about the provincial GDPs in the fiscal year 2021/22 conducted by the Central Bureau of Statistics (CBS), the province is expected to contribute 36.9% to the nation’s GDP. The figure was 36.7% last fiscal year. As the CBS projection suggests, the national annual GDP in the current fiscal will be around Rs 4,852 billion a year while Bagmati’s is approximately around Rs 1,791 billion. Karnali’s contribution to the GDP is projected to be 4.1% while the Province's consumer price is estimated to be around Rs 198 billion.  Province 1, Lumbini, Madhes, Gandaki and Sudurpaschim Province are likely to follow the Bagmati in terms of their contribution to the national GDP in the current fiscal year. The GDP growth rate in the current fiscal year will be 5.8% at the national level while Bagmati is projected to record the highest economic growth rate of 6.7%. The lowest 4.8% has been projected in Madhes Province. According to the revised estimates, Bagmati had the highest 4.6% growth rate and Gandaki had the highest growth rate of 3.7% last fiscal year. As per the industry taxonomy, the proportion of contribution of agriculture sector to the GDP in the last fiscal year and the current fiscal year is highest in all the other provinces except Bagmati province. The contribution of the wholesale and retail trade sector is seen more in Bagmati province. The CBS has stated that the contribution of trade sector is found to be more in the Bagmati province due to the growing urbanisation, large population and national-level big trade transactions. Trade sector which occupies the second position at the national level in terms of its contribution to GDP is in the same position in Province 1, Madhes province and Lumbini province. In Bagmati province, the contribution of the real estate transaction and private housing services is in second position. The contribution of public administration and security sectors is in the second place in Gandaki, Karnali and Sudurpaschim provinces. The contribution of administrative subsidiary services and activities is minimum in the GDP of all provinces except Bagmati and Madhes provinces. The estimated data has been made public on the basis of the statistics and information related to the economic sectors up to the nine months of the current fiscal year, the CBS stated. Based on the estimated data, the CBS concluded that economic activities are on the way to normality in all provinces following the Covid 19 pandemic. READ ALSO:

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