National Income Accounting: GDP, GDP Measurement, GDP Computation in Nepal,

and Its Problem

CONTENTS

❖ Meaning of Macroeconomic Indicators

❖ Meaning, and Features of GDP
❖ GDP at Market Price and Factor Cost, GDP Deflator
❖ Real GDP vs Nominal GDP
❖ Measurement of GDP
❖ Importance and Limitations of GDP
❖ GDP of Nepal: Facts, Trend, Structure, and Measurement
❖ Per Capita Income: Meaning and Importance
❖ Per Capita Income: Trend and Structure
❖ GNP, NNP, PI, and DI
❖ Major Macroeconomic Data
❖ Difficulties in Measurement of National Income

Introduction to Macroeconomic Indicators

• कुनैपनन देशको आनथिक-सामानिक अवस्था वा आनथिक सामानिक गनिनवनिहरुको वास्िनवकिा बुझ्नको लानग प्रयोग हुने/गरिने चिहरुलाई
बृहि आनथिक सूचक भननन्छ ।
• देशमा भइिहेका आनथिक गनिनवनिको प्रकाि, ि सो प्रनि देशको चासो वा खोिको नदषा बािे िानकािी गिाउनु बृहि/ समनि आनथिक
सूचकहरूको मख्ु य उद्देश्य हो ।
• यसका साथै कुनै पनन देशले अरू देशहरूको सम्बन्िमा आनथिक-सामानिक वास्िनवकिा बुझ्नको लानग नवश्ले षण गने चिहरु बृहि/ समनि
आनथिक सचू कहरू हुन् ।
• समनि आनथिक सूचकहरूको नवश्ले षणले देशमा कुन कुन पक्षहरू/गनिनवनिहरू सबैभन्दा बढी सबल ि सम्भानवि छन् ि कुन पक्षहरू/
गनिनवनिहरू बढी िोनखमपूणि छन् भनेि िान्न मद्दि पुर्याउँछ।
• यसरि समनि आनथिक सूचकहरूको सहयोगबाट अथििन्रका समग्र पक्षहरुको बािे मा उपयुकत्त िविले नवश्ले षण गदाि देशका नागरिकहरूको
भलो हुने ि अथिव्यवस्थालाइ सुदृढ बनाउन सहयोग गने ननणियहरू ििुिमा गनि ि कायािन्वयनमा ल्याउन सम्भव हुन्छ।
• त्यसकािण देशको आनथिक वास्िनवकिा थाहा पाउन ि सोको समग्र नवकाशको लानग अिाि पत्ता लगाउन प्रयोग गरिने चिहरुलाई नै समनि
आनथिक सूचक भननन्छ।
• The variables used to understand the socio-economic condition of a country or the reality of the socio-economic
activities of a country is called macroeconomic indicators.
• The main purpose of macroeconomic indicators is to inform the type of economic activity taking place in the
country, and the direction of the country's interest or research towards it.
• In addition, the variables that a country analyses to understand the socio-economic reality of other countries are
macroeconomic indicators.
• Analysis of macroeconomic indicators helps to know which aspects/activities are most strong and probable in
the country and which aspects/activities are most risky.
• Thus, with the help of macroeconomic indicators, a proper analysis of the overall aspects of the economy makes
it possible to formulate and implement decisions that will benefit the citizens of the country and help strengthen
the economy.
 • Therefore, the variables used to know the economic reality of the country and to find the basis for its overall
development are called macroeconomic indicators.
Gross Domestic Product (GDP) कुल ग्राहस्थ उत्पादन

• It is the total monetary value of all the newly produced final goods and services produced by all the production
units within the geographical territory of a nation during a particular time. कुनै नवशेष समयमा कुनै िाष्ट्रको भौगोनलक
क्षेरनभरका सबै उत्पादन एकाइहरूद्वािा नयाँ उत्पादन गरिएका अनन्िम वस्िु िथा सेवाहरूको कुल मौनिक मल्ू य लाइ कुल ग्राहस्थ उत्पादन
भननन्छ।
• Measurement of GDP includes the monetary value of all the productions regardless of the ownership of factors
of production. It means GDP includes productions produced by domestic resources as well as foreign resources
working inside the country. GDP को मापनमा उत्पादनका सािनहरुको स्वानमत्वलाई बेवास्िा गदै सािनहरुले गिे का उत्पादनहरूको
मौनिक मल्ू य समावेश हुन्छ। यसको अथि िीडीपीमा स्वदेशी स्रोि ि देशनभर काम गने नवदेशी स्रोिबाट उत्पादन हुने उत्पादनहरू समावेश
हुन्छन्।
Features of GDP/Points to Remember

→ GDP includes only currently/newly produced goods and services. It means it excludes previously produced any
item like houses, cars, or factories and resold goods; and any transaction in which money is transferred
without any direct exchange of goods and services in return. For example, government transfer payments, and
the exchange of financial assets like stocks and bonds. Remittance income is also considered a transfer payment
thus we cannot include remittance income in GDP. GDP मा हाल उत्पादन गरिएका वस्िु ि सेवाहरू मार समावेश हुन्छन्।
यसको अथि यसले पनहले उत्पादन गरिएका ि पुनः बेचेका कुनै पनन वस्िु िस्िै घि, काि, वा कािखाना आनद; ि बदलामा वस्िु ि सेवाहरूको
प्रत्यक्ष आदानप्रदान नबना गरिने कुनै पनन लेनदेनलाई हस्िान्ििणीय भक्त्ु त्तानी भननन्छ। उदाहिणको लागी, सिकािी हस्िान्ििणीय भक्त ु ानी
(भत्ता) । िे नमटेन्स आम्दानीलाई पनन हस्िान्ििणीय भक्त
ु ानी माननन्छ त्यसैले हामीले िे नमटेन्स आयलाई GDP मा समावेश गनि सक्त्दैनौं।
→ GDP only includes final products. It means GDP does not include intermediate goods to avoid the problem of
double counting. Final goods are those goods that are purchased by ultimate users either consumer goods
purchased by households or capital goods like machines and equipment, purchased by business firms.
Intermediate goods are raw materials used by the producers. Since raw materials are converted into finished
goods by the producer, so they are not included in the calculation of GDP. GDP ले अनन्िम उत्पादनहरू मार समावेश
गदिछ। यसको मिलब दोहोिो गणनाको समस्याबाट बच्न िीडीपीले मध्यविी वस्िुहरू समावेश गदैन। अनन्िम वस्िुहरू िी वस्िुहरू हुन् िुन
अनन्िम प्रयोगकिािहरूद्वािा खरिद गरिन्छ या ि घिपरिवािहरूद्वािा खरिद गरिएका उपभोग्य वस्िुहरू वा व्यापारिक फमिहरूद्वािा खरिद गरिएका
मेनसन ि उपकिणहरू िस्िा पूँिीगि वस्िुहरू। मध्यविी वस्िुहरू उत्पादकहरूले प्रयोग गने कच्चा पदाथि हुन्। कच्चा पदाथिलाई उत्पादकले
ियाि वस्िुमा परिणि गने हुनाले त्यसलाई GDP को गणनामा समावेश गरिँ दैन।
→ GDP includes output produced by domestically owned resources as well as foreign-owned resources located and
contributing to the domestic production system of the nation. For example, the GDP of Nepal includes the value
of output produced by Nepalese production units in Nepal as well as foreign-owned production units operating
in Nepal. GDP मा स्वदेशी स्वानमत्वमा िहेका स्रोिहरूका साथै नवदेशी स्वानमत्वमा िहेका स्रोिहरूद्वािा िाष्ट्रको घिे लु उत्पादन प्रणालीमा
गिे को योगदान अथवा उत्पादन समावेश हुन्छ। उदाहिणका लानग, नेपालको िीडीपीमा नेपालमा िहेका नेपाली उत्पादन एकाइहरू ि नेपालमा
सञ्चानलि नवदेशी स्वानमत्वमा िहेका उत्पादन एकाइहरूद्वािा उत्पानदि उत्पादनको मल्ू य समावेश हुन्छ।
→ GDP includes the market value of output. Thus, it considers marketable activities only. It means the value of
GDP is always expressed at market price and it excludes those things which are not exchanged in the market like
housework, the output of the home garden, and so on. GDP ले उत्पादनको बिाि मल्ू य समावेश गदिछ। िसथि, यसले बिाियोग्य
गनिनवनिहरू मार गणना गदिछ। यसको अथि िीडीपी सिै बिाि मल्ू यमा व्यक्त गरिन्छ नकननक यसले बिािमा आदानप्रदान नहुने चीिहरू
मारै समावेश गदिछ िस्िै घिको काम, घिको बगैंचाको उत्पादन, नग्रहणीले गने काम, आफ्ना के टाके टी लाइ पढाउने काम आनद यसमा पदैनन्।
 → Measurement of GDP also excludes the amount of capital gain from any financial as well as non-financial assets.
It is because such gains do not directly contribute to the current production capacity of the nation. GDP को मापनले
कुनै पनन नवत्तीय ि गैि-नवत्तीय सम्पनत्तहरूबाट आनििि पुँिीगि लाभको िकमलाई पनन समावेश गदैन। नकनभने यस्िो नाफाले िाष्ट्रको वििमान
उत्पादन क्षमिामा प्रत्यक्ष योगदान गदैन ।
त्यसकािण कुनैपनन मल ु क
ु को कुल ग्राहस्थ उत्पादन मापन गनिको लानग कुनैपनन वषिमा उत्पानदि अनन्िम बस्िु िथा सेवाको परिमाणलाई सो बस्िु िथा
सेवा हरुको बिाि मल्ु यले गुणन गिे ि योगफल ननकानलन्छ। Therefore, to measure GDP, the multiplication between the number of final
goods and services produced in any given year and the market prices of those goods is added.

Thus, 𝐺𝐷𝑃 = 𝑃1 × 𝑄1 + 𝑃2 × 𝑄2 + ⋯ … … + 𝑃𝑛 × 𝑄𝑛

Or 𝐺𝐷𝑃 = ∑𝑛𝑖=1 𝑃𝑖 × 𝑄𝑖
Where P is the current market price of final goods and services; Q is the number of goods and services, and there are ‘n’
numbers of goods and services produced in the economy.
Market Price and Factor Costs/Basic/Producer's Price/ बजार मूल्य र कारक लागत/आधारभूत/उत्पादकको मूल्य

→ The price which is paid by the final buyers in the market is called market price. It means, it is the price of goods
and services paid at last by the final users. बिािमा अनन्िम खरिदकिािले नििे को मल्ू यलाई बिाि मल्ू य भननन्छ। यसको मिलब,
यो अनन्िम प्रयोगकिािहरूले भक्त
ु ान गिे को वस्िु ि सेवाहरूको मल्ू य हो।
→ The price received by the producers is called the producer's price. In another way, it is the total payment made
by the producer to the owners of factors of production in return for their contribution to the production of goods
and services. Thus, the basic price is the sum of wages, rent, interest, and profit. It is the price received by the
firm in terms of its revenue. उत्पादकहरूले प्राप्त गिे को मल्ू यलाई उत्पादकको मल्ू य भननन्छ। यो उत्पादकले वस्िु ि सेवाहरूको
उत्पादनमा योगदानको बदलामा उत्पादनका कािकहरूको मानलकहरूलाई गिे को कुल भक्त ु ानी हो। यसिी, आिािभिू मल्ू य ज्याला, भाडा,
ब्याि, ि लाभ को योग हो।यो वास्िवमा फमि द्वािा आििन गरिएको आय हो ।
→ Market price can be obtained by adding net indirect taxes to the basic prices. Net indirect tax is an indirect tax
after deducting subsidies. आिािभिू मल्ू यमा शद्ध
ु अप्रत्यक्ष किको िकम िोडेि बिाि मल्ू य प्राप्त गनि सनकन्छ। शद्ध
ु अप्रत्यक्ष कि
अनुदान कटौिी पनछको अप्रत्यक्ष कि हो। त्यसकािण यो सम्बन्िलाइ ननम्नानुसाि व्यक्त गनि सनकन्छ।

Basic Price/Factor Costs=Wage +Rent + Interest + Profit आिािभिू मल्ू य/कािक लागि = ज्याला + भाडा + ब्याि + लाभ
Market Price = Basic Price + Net Indirect Tax (NIT) बिाि मल्ू य = आिािभिू मल्ू य + शुद्ध अप्रत्यक्ष कि (NIT)
Where NIT = Indirect taxes – Subsidies िहाँ शद्ध
ु अप्रत्यक्ष कि (NIT) = अप्रत्यक्ष कि - अनुदान
GDP at Market Price and GDP at Factor Cost/Basic/Producer’s Price
GDP at Market Price/ बजार मूल्यमा जीडीपी
GDP at market price is the measure of total domestic output including net indirect taxes on goods and services. When final
goods and services are measured at the current market price or at the price that is paid by the final users then it is called
GDP measured at market price. बिाि मल्ू यमा मापन गरिएको GDP भनेको वस्िु ि सेवाहरूमा लाग्ने शुद्ध अप्रत्यक्ष कि सनहिको कुल आन्िरिक
उत्पादनको मापन हो। िब अनन्िम वस्िु ि सेवाहरू हालको बिाि मल्ू यमा वा अनन्िम प्रयोगकिािहरूले नििे को मल्ू यमा मापन गरिन्छ, त्यसलाई बिाि
मल्ू यमा मापन गरिएको GDP भननन्छ।
GDP at Factor Cost/ कारक लागत मा GDP
GDP at factor cost is the measure of the total domestic product without the net indirect taxes on products. Thus, it is the
total payment made to the national as well as international productive factors of production contributing to the production
process of the nation. कािक लागिमा मापन गरिएको GDP भनेको बस्िु िथा सेवाहरुमा लाग्ने शद्दु अप्रत्यक्ष कि नबनाको कुल आन्िरिक उत्पादनको
मापन हो। िसथि, यो कुनै पनन िाष्ट्रको उत्पादन प्रनियामा योगदान गने उत्पादनको िानष्ट्रय िथा अन्ििािनष्ट्रय उत्पादक कािकहरूलाई गरिएको कुल भक्त
ु ानी
हो।

Note/ नोट

❖ If all the economic transactions happen between the business sector and household sector without government
then GDP at MP is equal to GDP at FC. यनद सिकािको उपनस्थनि नबना सबै आनथिक लेनदेन व्यापाि क्षेर ि घिायसी क्षेर बीच हुन्छ
भने बिाि मल्ू य ि कािक मल्ू य बिाबि हुन्छ ि बिाि मल्ु यमा मापन गरिएको GDP ि कािक मल्ु यमा मापन गरिएको GDP पनन बिाबि हुन्छ।
❖ In the case of the presence of the government, GDP at MP is higher than GDP at FC by the amount of net indirect
tax. सिकािको उपनस्थनिको अवस्थामा, बिाि मल्ु यमा मापन गरिएको GDP कािक मल्ु यमा मापन गरिएको GDP भन्दा शद्ध ु अप्रत्यक्ष
किको मारा बिाबिको िकमले बढी हुन्छ।

Nominal GDP and Real GDP/ मौद्रिक जीडीपी र वास्तद्रवक जीडीपी

Nominal GDP/मौद्रिक जीडीपी

→ If GDP is measured at the current market price, then it is known as nominal GDP. It means when the quantities
of the output of the particular year are multiplied by the prices of the same year then it is called nominal GDP.
यनद GDP लाई हालको बिाि मल्ू यमा मापन गरिन्छ भने यसलाई मौनिक िीडीपी भननन्छ। यसको अथि िब कुनै नवशेष वषिको उत्पादनको
परिमाणलाई सोही वषिको मल्ू यले गुणन गरिन्छ भने त्यसलाई मौनिक िीडीपी भननन्छ।
→ Nominal GDP includes the effect of inflation and deflation. Thus, it is also known as inflation unadjusted GDP.
मौनिक िीडीपीले मिु ास्फीनि ि अपस्फीनिको प्रभावलाइ पनन समावेश गदिछ। यसैले यसलाई मिु ास्फीनि असंयोनिि िीडीपी पनन भननन्छ।
→ The value of nominal GDP may change due to a change in price only, or change in output only, or a change in
both price and output both. मौनिक िीडीपीको मल्ू य के वल मल्ू यमा परिवििन, वा उत्पादन मार परिवििन, वा मल्ू य ि उत्पादन दवु ैमा
परिवििनको कािणले परिवििन (घट बढ ) हुन सक्त्छ।
→ For example, if quantities of the output for the year 2078 are measured at the prices of 2078 then it is known as
nominal GDP. उदाहिण को लागी, यनद वषि 2078 मा उत्पानदि परिणामहरुलाई 2078 कै बिाि मल्ू य मा मापन गरिन्छ भने यसलाई
मौनिक िीडीपी भननन्छ।

The following formula can be used to measure the value of Nominal GDP.

𝑁𝑜𝑚𝑖𝑛𝑎𝑙 𝐺𝐷𝑃 = 𝑃1 × 𝑄1 + 𝑃2 × 𝑄2 + ⋯ + 𝑃𝑛 × 𝑄𝑛
Real GDP/वास्तद्रवक जीडीपी

→ If GDP is measured at the base year price, then it is known as real GDP. It means when the quantities of the
output of the particular year are not multiplied by the prices of the same year but rather multiplied by the prices
of the base year then it is called real GDP. यनद GDP आिाि वषिको मूल्यमा मापन गरिन्छ भने यसलाई वास्िनवक GDP भननन्छ।
यसको मिलब िब कुनै नवशेष वषिको उत्पादनको परिमाणलाई सोही वषिको मूल्यले गुणन नगिी आिाि वषिको मल्ू यले गुणन गरिन्छ भने
त्यसलाई वास्िनवक िीडीपी भननन्छ।
→ Real GDP does not include the effect of inflation and deflation. Thus, it is also known as inflation-adjusted GDP.
वास्िनवक िीडीपीले मिु ास्फीनि ि अपस्फीनिको प्रभाव समावेश गदैन।अथवा अथििन्रमा परिवििन भएको समग्र मल्ू य स्ििको प्रभावलाई
हटाउन वास्िनवक िीडीपी मापन गरिन्छ। यसैले यसलाई मिु ास्फीनि-समायोनिि िीडीपी पनन भननन्छ।
→ The value of real GDP changes due to a change in output only. वास्िनवक िीडीपीको मल्ू य उत्पादनमा भएको परिवििनको
कािणले मारै परिवििन हुन्छ।
 → For example, if quantities of the output for the year 2078 are measured at the prices of the base year 2068 then it
is known as real GDP. उदाहिणका लानग, यनद वषि 2078 को उत्पादनको मारा आिाि वषि 2068 को मल्ू यमा मापन गरिन्छ भने यसलाई
वास्िनवक GDP भननन्छ।
→ The following formula can be used to measure the value of Real GDP.
→ 𝑅𝑒𝑎𝑙 𝐺𝐷𝑃 = 𝑃0 × 𝑄1 + 𝑃0 × 𝑄2 + ⋯ + 𝑃0 × 𝑄𝑛
→ Where 𝑃0 is base years price

Nominal GDP VS Real GDP

The foundational differences between nominal and real GDP can be expressed below.
Nominal GDP Real GDP
Nominal GDP shows the monetary value of all products Real GDP shows the real value of products produced
produced within the geographical territory of the nation. within the geographical territory of the nation. वास्िनवक
मौनिक िीडीपी ले िाष्ट्रको भौगोनलक नसमाना नभर उत्पादन भएका सबै िीडीपीले िाष्ट्रको भौगोनलक नसमाना नभर उत्पानदि वस्िुहरूको
उत्पादनहरूको मौनिक मल्ू य देखाउँछ। वास्िनवक मल्ू य देखाउँछ।
Nominal GDP is also known as nominal gross domestic Real GDP is also known as real gross domestic income.
income. मौनिक GDP लाई मौनिक सकल ग्राहस्थ आय पनन वास्िनवक GDP लाई वास्िनवक सकल ग्राहस्थ आय पनन भननन्छ।
भननन्छ।
Nominal GDP can increase even without an increase in Real GDP requires an increase in output to increase its
output. मौनिक िीडीपी उत्पादन वृनद्ध नबना पनन बढ्न सक्त्छ। value. So, real GDP changes only when real output
change over time. वास्िनवक GDP बढाउनको लानग उत्पादनमा
वृनद्ध अननवायि रुपमा हुनु पदिछ। िब उत्पादन समय अनुसाि परिवििन
हुन्छ त्यसपछडी मारै वास्िनवक निडीपी परिवििन हुन्छ।
Nominal GDP is highly affected by the rate of inflation Real GDP is inflation-adjusted GDP, so it represents the
so it may not show the real economic growth of the real economic growth of the nation. वास्िनवक िीडीपी
nation. मौनिक िीडीपी मिु ास्फीनिको दिबाट अत्यनिक प्रभानवि मिु ास्फीनि-समायोनिि िीडीपी हो त्यसैले यसले िाष्ट्रको वास्िनवक
हुन्छ त्यसैले यसले िाष्ट्रको वास्िनवक आनथिक वृनद्ध देखाउन सक्त्दैन। आनथिक वृनद्धलाई प्रनिनननित्व गदिछ।
Nominal GDP is always concerned with the price level of Real GDP is always concerned with the price level of the
the current year. मौनिक िीडीपी सिैं चालू वषिको मल्ू य स्ििसँग base year. वास्िनवक िीडीपी सिैं आिाि वषिको मल्ू य स्ििसँग
सम्बनन्िि छ। सम्बनन्िि छ।
Nominal GDP is used to make comparisons between Real GDP is used to make macroeconomic policies as it
nations as international institutions like IMF, World shows the real economic progress of the nations. वास्िनवक
Bank, and ADB use nominal GDP or GDP measure at िीडीपीले िाष्ट्रहरूको वास्िनवक आनथिक प्रगनि देखाउँने हुदा समनि
current market price. IMF, World Bank, ि ADB िस्िा आनथिक नीनिहरू बनाउन वास्िनवक निनडपी प्रयोग गरिन्छ
अन्ििािनष्ट्रय संस्थाहरूले िीडीपी रिपोटि गदाि बिाि मल्ू यमा गने
भएकाले मौनिक GDP िाष्ट्रहरू बीचको िल ु ना गनि प्रयोग गरिन्छ।
Change in nominal GDP shows the growth of the size of Change in real GDP shows the economic growth rate. A
the economy. For example, nominal GDP increases from change in real GDP means a change in the real output of
500 billion to 550 billion showing that the size of the the economy over time. So, a real GDP increase means
economy is increased by 10 percent. So, the size of the there is an increase in production in the economy. For
economy can increase even without an increase in output example, if real GDP increases from 200 billion to 205
as nominal GDP may increase due to an increase in price billion then the economic growth rate is 2.5 percent.
level only. वास्िनवक िीडीपीमा परिवििनले आनथिक वृनद्ध दि देखाउँछ। वास्िनवक
मौनिक िीडीपीमा परिवििनले अथििन्रको आकािको वृनद्ध देखाउँछ। िीडीपीमा परिवििन भनेको समयसँगै अथििन्रको वास्िनवक उत्पादनमा
उदाहिणका लानग, मौनिक िीडीपी ५०० अबिबाट बढेि ५५० अबि पुग्दा आएको परिवििन हो। त्यसकािण वास्िनवक िीडीपी वृनद्ध भनेको
अथििन्रको आकाि १० प्रनिशिले बढेको देखाउँछ। िसथि, उत्पादनमा अथििन्रमा उत्पादनमा वृनद्ध हुनु हो। उदाहिणका लानग, यनद वास्िनवक
वृनद्ध नगिी पनन अथििन्रको आकाि बढ् न सक्त्छ नकनभने मल्ू य स्ििमा िीडीपी २०० अबिबाट बढेि २०५ अबि पुग्छ भने आनथिक वृनद्ध दि २.५
भएको वृनद्धले मार पनन मौनिक निनडपी बढ्न सक्त्छ। प्रनिशि हुन्छ।
 Note
→ Economic growth is always measured by measuring the rate of change in real GDP.
→ The growth of the Size of the economy is always measured by measuring the rate of change in nominal GDP.
→ The growth rate of nominal GDP is higher than the growth rate of real GDP as nominal GDP growth also
includes the growth rate of inflation too.
→ आनथिक वृनद्ध सिैं वास्िनवक GDP मा भएको परिवििनको दि मापन द्वािा मापन गरिन्छ।
→ अथििन्रको आकािको वृनद्ध सिैं मौनिक GDP मा भएको परिवििनको दि मापन गिे ि मापन गरिन्छ।
→ मौनिक GDP वृनद्ध मा मिु ास्फीनि को वृनद्ध दि पनन समावेश हुने भएकाले मौनिक GDP को वृनद्ध दि वास्िनवक GDP को वृनद्ध दि
भन्दा उच्च हुन्छ।

Which GDP is better?

Nominal GDP is the total market value of all goods and services produced each time, usually annually. Whereas real GDP
is nominal GDP adjusted for inflation. Real GDP is used to measure the actual growth of production without any effects
of inflation. Economists believe that real GDP is better than nominal GDP because of the following reasons. मौनिक GDP
कुनै नननिि समय अवनि सामान्यिया वानषिक रूपमा उत्पादन हुने सबै वस्िु ि सेवाहरूको कुल बिाि मल्ू य हो। वास्िनवक GDP मिु ास्फीनि समायोनिि
मौनिक GDP हो। वास्िनवक िीडीपी मिु ास्फीनिको कुनै प्रभाव नबना उत्पादनको वास्िनवक वृनद्ध मापन गनि प्रयोग गरिन्छ। अथिशास्त्रीहरू ननम्न
कािणहरूले गदाि वास्िनवक िीडीपी मौनिक िीडीपी भन्दा िाम्रो छ भन्ने नवश्वास गछि न्।

• It is important to know the total amount that the economy is producing and consuming over time. Real GDP is a
key indicator for the measurement of the overall health and growth of the economy. Thus, it is used to determine
economic policy going forward. समयसँगै अथििन्रले उत्पादन ि उपभोग गरििहेको कुल िकम िान्न महत्त्वपूणि छ। वास्िनवक िीडीपी
समग्र अथिव्यवस्थाको स्वास््य ि अथिव्यवस्थाको वृनद्धको मापनको लानग एक प्रमख
ु सूचक हो। िसथि, यो भानवस्यमुखी आनथिक नीनि
ननिाििण गनि प्रयोग गरिन्छ।
• Real GDP offers a better measure than nominal GDP while measuring the status of economic output in the real
sense. It means whether the output has increased or not over time is correctly estimated by real GDP. वास्िनवक
GDP ले वास्िनवक अथिमा आनथिक उत्पादनको नस्थनि मापन गदाि मौनिक GDP भन्दा िाम्रो मापन प्रदान गदिछ। यसको मिलब उत्पादन
बढेको छ वा छै न वास्िनवक GDP द्वािा सही रूपमा अनुमान गरिन्छ।
• The growth rate of real GDP shows the actual rate of economic progress based on which policies can be
formulated. For example, the central bank can reduce interest rates if there is a lower rate of growth in real GDP.
वास्िनवक िीडीपीको वृनद्ध दिले आनथिक प्रगनिको वास्िनवक दि देखाउँछ िसको आिािमा नीनिहरू बनाउन सनकन्छ। उदाहिणका लानग,
यनद वास्िनवक GDP मा वृनद्ध दि कम छ भने के न्िीय बैंकले ब्याि दि घटाउन सक्त्छ।
• An increase in GDP does not necessarily mean a nation has produced more output; it must be specified whether
the GDP in question is nominal or real. An increase in nominal GDP may just mean prices have increased, while
an increase in real GDP means output increased. कुल गाहिस््य उत्पादन (िीडीपी) मा बृनद्ध हुनुको अथि िाष्ट्रले बढी उत्पादन
गिे को हो भन्ने होइन। यसको लानग िीडीपी मौनिक हो वा वास्िनवक हो भनेि नननदिि गनुिपछि । मौनिक िीडीपीमा बृनद्ध हुनुको अथि मार मल्ू य
बढेको हुन सक्त्छ, िबनक वास्िनवक िीडीपीमा बृनद्ध हुनक
ु ो अथि उत्पादन बढेको हो भन्ने हुन्छ।
Thus, to show the actual or real economic health of the nation and to provide bases for the policy formulation, real GDP
plays a significant role. िसथि, िाष्ट्रको वास्िनवकिा ि वास्िनवक आनथिक स्वास््य देखाउन ि नीनि ननमािणका लानग आिािहरू उपलब्ि गिाउन
वास्िनवक िीडीपीले महत्त्वपूणि भनू मका खेल्छ।
An Example
The following hypothetical table shows the measure of nominal GDP and real GDP with the rate of growth over time. ननम्न
काल्पननक िानलकाले मौनिक GDP ि वास्िनवक GDP को मापन ि वृनद्ध दिलाइ देखाउदछ।
 Year Output Price Nominal Nominal Real Real Attributes
(1) (2) (3) GDP GDP GDP GDP
(2*3) Growth (2016 Growth
Rate Base) Rate
2016 10 2 20 - 20 -
2017 15 3 45 100% 30 50%
2018 15 5 75 66.67% 30 0% There is no real growth in the
economy
2019 13 8 104 38.67% 26 -15.38% Economy suffers from negative
growth and needs special
treatment
2020 18 11 198 90.38% 36 38.46%

सन् २०१८ मा मौनिक निनडपी हेदाि अथििन्रको आकाि करिब ६७ प्रनिशिले बढेको देनखन्छ िि वास्िनवक निनडपी हेदाि वास्िनवक उत्पादन शन्ु य दिमा
बढेको देनखन्छ। त्यसैगिी सन् २०१९ मा पनन वास्िनवक निनडपी ले मारै अथििन्रको वास्िनवकिा देखाएको छ। त्यसकािण मौनिक निनडपी लाइ आिाि
बनाएि नीनि ििुिमा गदाि अथििन्र गलि नदशामा िाने खििा हुन्छ। Looking at the nominal GDP in 2018, the size of the economy has
increased by about 67 percent, but looking at the real GDP, the real production has increased by zero rate. Similarly, in
2019, only real GDP has shown the reality of the economy. Therefore, when formulating a policy based on nominal GDP,
there is a danger that the economy will go in the wrong direction.
Measurement of GDP/GDP को मापन
GDP can be measured by three methods based on interrelated economic activities of the economy. They are briefly
explained below. अथििन्रको अन्ििसम्बनन्िि आनथिक गनिनवनिको आिािमा िीडीपीलाई िीन िरिकाले मापन गनि सनकन्छ। निनै नवनिहरुलाई
सनं क्षप्त रूपमा यहा व्याख्या गरिएको छ।
Product Method/ उत्पादन द्रवद्रध
This method measures GDP by adding the total market value of all goods and services produced by domestic as well as
foreign producing units in a country during a year. Total final output produced by all the sectors of the economy is
considered to measure GDP under the product method. यो नवनिले देशमा एक वषिको अवनिमा स्वदेशी िथा नवदेशी उत्पादनका
एकाइहरूद्वािा उत्पानदि सबै वस्िु िथा सेवाहरूको कुल बिाि मल्ू य गणना गिे ि GDP मापन गदिछ। अथििन्रका सबै क्षेरहरूले उत्पादन गिे को कुल
अनन्िम उत्पादनलाई उत्पादन नवनि अन्िगिि GDP मापन गनिको लानग समावेस गरिन्छ।
Components of Product Method/ उत्पादन द्रवद्रिका अवयवहरू/तत्वहरु
This method divides the economy into three broader groups and divides them into different sectors. The market value of
all products produced in all the sectors is considered to measure GDP at a market price during a period. Thus, the major
components are listed below. यो नवनिले अथििन्रलाई िीनवटा फिानकलो समहू मा ि नि समहु हरुलाई नवनभन्न क्षेरहरूमा नवभािन गछि । GDP
मापन गनिको लानग सबै क्षेरहरूमा उत्पानदि उत्पादनहरूको बिाि मल्ू यलाई गणना गिे ि िोडफ़ल ननकानलन्छ। िसथि यस नवनिका प्रमख
ु ित्वहरुलाई
यसप्रकाि सचू ीबद्ध गनि सनकन्छ।
Primary Sector Product: It includes Agriculture, forestry, fishing, mining, and quarrying. (प्राथनमक क्षेरको उत्पादन: यसमा
कृ नष, वन, िथा मत्स्यपालन; खानी ि उत्खनन समावेश हुन्छन।)
Secondary Sector Product: It includes Manufacturing, Electricity, gas, steam, and air conditioning supply, Water supply;
sewerage, waste management, and remediation activities, Construction (नद्विीय क्षेरको उत्पादन: यसमा उत्पादन, नबिुली, ग्यास, स्टीम,
ि वािानुकूनलि आपूनिि, पानी आपूनिि; ढल ननकास, फोहोि व्यवस्थापन, ि उपचाि गनिनवनि, ननमािण आनद समावेश गरिन्छन।)
Tertiary Sector Product: It includes service-oriented businesses like Wholesale and retail trade; repair of motor vehicles
and motorcycles, Transportation and storage, Accommodation, food service activities, etc. (िृिीय क्षेरको उत्पादन: यसले थोक ि
खिु ा व्यापाि िस्िा सेवा-उन्मख
ु व्यवसायहरू; सवािी सािन ि मोटिसाइकल ममिि, यािायाि ि भण्डािण, आवास, खाद्य सेवा गनिनवनिहरू, आनद
समावेश गरिन्छ।)
The sum of the output of all these sectors of the economy gives gross domestic product at market price. Thus, GDP at
a market price under the product approach can be expressed as
GDP at MP = Monetary Value of Total product of (Primary + Secondary+ Tertiary) sector. अथििन्रका यी सबै क्षेरहरूको
उत्पादनको योगफलले बिाि मल्ू यमा मापन गरिने कुल गाहिस््य उत्पादनको मान सनु ननिि गदिछ। यसिी, उत्पादन दृनिकोण अन्िगिि GDP लाइ बिाि
मल्ू यको रूपमा व्यक्त गनि सनकन्छ. Thus, GDP at MP = (प्राथनमक+नद्वनत्तय +निनििय) क्षेरको कुल उत्पादन ।
Types of Product Method
The production method is popular but not free from the problem of double counting. Thus, to address such a problem of
double counting, the production method is further divided into two sub-methods. उत्पादन नवनि लोकनप्रय हुदा हुदै पनन यो नबनि
दोहोिो गणनाको समस्याबाट मक्त
ु छै न। यसिी दोहोिो गणनाको समस्यालाई सम्बोिन गनि उत्पादन नवनिलाई थप दईु उप-नवनिमा नवभािन गरिएको छ।
1. Final Product Method/अनन्िम उत्पादन नवनि
2. Value Added Method/मल्ू य अनभवृनद्ध नवनि
Final Product Method/ अद्रततम उत्पादन द्रवद्रि
This method measures GDP as the money value of all final goods and services produced by all the production units of the
nation during a year. Under this method, first, the monetary value of all newly produced final goods and services produced
by all the sectors of the economy (18 sectors for Nepal) are found and then these values are added to measure gross
domestic product. The summation of the market value of the final product produced by different sectors of an economy
gives the value of GDP at market price. Therefore, it can be expressed below. यो नवनिले एक वषिमा देशमा िहेका सबै उत्पादन
एकाइहरूद्वािा उत्पानदि सबै अनन्िम वस्िु ि सेवाहरूको मौनिक मल्ू यको रूपमा GDP मापन गदिछ। यस नवनि अन्िगिि, पनहले, अथििन्रका सबै क्षेरहरू
(नेपालका लानग 18 क्षेरहरू) द्वािा उत्पानदि सबै नयाँ उत्पानदि अनन्िम वस्िु ि सेवाहरूको मौनिक मल्ू य पत्ता लगाइन्छ ि त्यसपनछ यी मल्ू यहरू िोडेि
कुल गाहिस््य उत्पादन मापन गरिन्छ। अथििन्रका नवनभन्न क्षेरहरूद्वािा उत्पानदि अनन्िम उत्पादनको योगले बिाि मल्ू यमा GDP को मापन गरिन्छ।
त्यसैले, यसको सुर ननम्नानुसाि व्यक्त गनि सनकन्छ।
GDP at MP = Market value of all final products produced by all the sectors of an economy
(GDP at MP = अथििन्रका सबै क्षेरहरूद्वािा उत्पानदि सबै अनन्िम उत्पादनहरूको बिाि मल्ू य)

Thus, GDP at MP = Pₗ.Qₗ + P₂.Q₂ +……+ Pₙ.Qₙ

Value Added Method/मल्ू य अद्रिवृद्रि द्रवद्रि
The final goods and services we use are produced as a final product through various stages of production. According to
the value-added method, GDP is measured by finding the total value added by the production units at different stages of
production while producing the final goods and services. हामीले प्रयोग गने अनन्िम बस्िु िथा सेवाहरु उत्पादनका नबनभन्न चिण हुदै
अनन्िम बस्िक
ु ो रुपमा उत्पादन हुने गदिछन। मल्ू य अनभवृनद्ध नवनि अनुसाि, अनन्िम वस्िु िथा सेवाहरु उत्पादन गदाि उत्पादनको नवनभन्न चिणहरूमा
उत्पादन इकाइहरूले गिे को कुल मल्ू य अनभवृनद्ध पत्ता लगाएि GDP मापन गदिछ।
The value addition is the difference between the value of the output of a particular stage of production and the cost of
intermediate consumption/raw material used by that stage to produce such output. मल्ू य अनभवृनद्ध (value addition) भनेको
उत्पादनको एक नवशेष चिणमा उत्पादन गरिएको बस्िुको मल्ू य ि सो चिणले त्यस्िो बस्िु उत्पादन गनि प्रयोग गिे को मध्यविी उपभोग/कच्चा पदाथिको
लागि बीचको नभन्निा हो।
Features/ द्रवशेषताहरु
 • The value-added method focuses on the gross value addition made by different phases of production of final
goods and services. / यो नवनि वस्िु ि सेवाहरूको उत्पादनका नवनभन्न चिणहरूमा गरिएको कुल मल्ू य अनभवृनद्धमा के नन्िि हुन्छ।
• It shows the contribution or value addition of every producing unit in the process of production. यसले उत्पादन
प्रनियामा योगदान गरििहेका प्रत्येक उत्पादन इकाईको योगदान वा मल्ू य अनभवृनद्धलाइ मापन गदिछ।
• GDP under this method is the summation of gross contribution or value addition made by different production
phases from the initial to the last one. यस नवनि अन्िगिि GDP भनेको प्रािनम्भक देनख अनन्िम सम्म नवनभन्न उत्पादन चिणहरूमा
उत्पादकहरूले गिे को सकल योगदान वा कुल मल्ू य अनभवृनद्धको योगफल हो।
• This method measures GDP at the current market price. यो नवनिले हालको बिाि मल्ू यमा GDP मापन गछि ।
Steps / चरणहरू

• Finding the gross value addition made by each producing unit involved in the production process. It can be
obtained by measuring the difference between the value of output and costs of intermediate consumption or costs
of raw materials used. उत्पादन प्रनियामा संलग्न प्रत्येक उत्पादन इकाईद्वािा गरिएको कुल मल्ू य अनभवृनद्ध पत्ता लगाउने। उत्पादनको
मल्ू य ि मध्यविी खपिको लागि वा प्रयोग गरिएको कच्चा पदाथिको लागि बीचको नभन्निा मापन गिे ि कुल मल्ू य अनभवृनद्ध प्राप्त गनि
सनकन्छ।
• Adding all the values of gross value addition made by different units or stages of the production process gives
gross domestic product at the basic price/producer’s price. नवनभन्न एकाइहरू वा उत्पादन प्रनियाका चिणहरूद्वािा गरिएका
कूल मल्ू य अनभवृनद्धका सबै मल्ू यहरू िोड् दा उत्पादकको मल्ू यमा कुल गाहिस््य उत्पादन प्राप्त हुन्छ।
• Adding net indirect tax to GDP at the basic price will give the value of GDP at the market price. यसरि प्राप्त मापनमा
शद्दु अप्रिक्ष कि िोड् दा बिाि मल्ू यमा मापन गरिएको िीडीपी प्राप्त हुन्छ।
This can be further explained with help of the following table. यसलाई ननम्न िानलकाको सहायिाले थप व्याख्या गनि सनकन्छ।
Stage of Production उत्पादन Selling Price/Value of Price of Intermediate Gross Value Added कुल
को चिण Output नबिी मल्ू य/उत्पादनको Product/Cost of Raw मल्ू य अनभवृनद्ध
मल्ू य Materials मध्यस्थ बस्िुको
मल्ू य/कच्चा पदाथिको लागि
उखु (Sugarcane) 10 0 10
द्रचनी (Sugar) 15 10 5
20 15 5
द्रचनीको थोक द्रबद्रि मूल्य
(Wholesale price of
sugar)
द्रचनीको खुिा मूल्य (Retail 25 20 5
price of sugar)
द्रमठाइको मूल्य (Price of 30 25 5
Sweet)
Total 100 70 30

Here total gross value addition from the five stages of production of sweets is Rs. 30 which is known as GDP at the market
price as we have considered the value of output in each stage at the market price. If we consider the value of output at
producers’ price, then it gives GDP at factor cost (case of Nepal government national accounts). यहाँ नमठाई उत्पादनको पाँच
चिणबाट कूल मल्ू य अनभवृनद्ध रु. 30 प्राप्त भएको छ िसलाई बिाि मल्ू यमा मापन गरिएको GDP भननन्छ नकनभने हामीले प्रत्येक चिणमा सृिना भएको
उत्पादनको मल्ू यलाई बिाि मल्ु यको रुपमा अनुसिण गिे का छौ। यनद प्रत्येक उत्पादनको चिणमा प्राप्त बस्िुको मल्ू य आिािभिू मल्ू यको रुपमा अनुसिण
गरिन्छ भने यसले कािक लागिमा भएको िीडीपी को मापन नदन्छ। (नेपाल सिकािको िानष्ट्रय खािा हेदाि १८ ओटा क्षेरहरुले सृिना गिे को कुल मल्ू य
अनभवृनद्ध को योगलाई कािक लागिमा प्रप्प्प्त िीडीपी को रुपमा रिपोटि गरिन्छ)
Analysis

मल्ू य अनभवृनद्ध नबनि बाट िीडीपी गणना गदाि दोहोिो गणनाको खििा कम िहन्छ। यनद उत्पादनको नबनि मल्ू य मारलाई आिाि मान्ने हो भने यसले
दोहोिो गणना समस्या नसििना गदिछ। The risk of double calculation is less when calculating GDP from the value-added method.
If only the selling price of the product is taken as the basis then it creates a double-counting problem.

फाइदाहरु/ Benefits

• यो नबनि बुझ्न सनिलो ि सामान्य ब्यबसानयक गणनाको नवनिसंग सम्बनन्िि छ। This method is easy to understand and is related
to the general business calculation method.
• यसरि गणना गदाि उपभोग्य बस्िु ि उत्पादक बस्िु बीच हुने फिकलाई छुट् याउनु पदैन . When calculating in this way, there is no
need to differentiate between consumer goods and producer goods
• यो नवनिले िीडीपी अनुमानको सुद्दिा परिक्षण गदिछ। This method tests the accuracy of GDP estimates.
• यसले उत्पादनको प्रत्येक क्षेरबाट िीडीपी मा हुने योगदानका बािे मा सुचना नदन्छ। It provides information on the contribution of
each sector of production to the GDP.

Income Method/ आय द्रवद्रध

बस्िु िथा सेवाहरुको उत्पादनमा नवनभन्न सािनहरुको प्रयोग हुन्छ। नि सािनहरुको प्रयोग गिे वापि पारिश्रनमक नदनपु दिछ। यसरि नदईने पारिश्रनमकलाई
नि सािनहरुले प्राप्त गने आम्दानन माननन्छ। आम्दानन नवनिद्वािा िीडीपीको गणना गदािखेिी उत्पादनका सम्पूणि सािनहरुले एक बषिनभर प्राप्त गने
पारिश्रनमकहरुको कुल योग ननकानलन्छ। िसथि, यस दृनिकोण अन्तगगत कुल राद्ररिय आय भनेको देशनभर उत्पादन गरििहेका उत्पादनका सािनहरुका
मानलकहरूले कमाएको सबै आम्दानीको योगफल हो। Various factors are used to produce goods and services. The owners of factors
should be rewarded for using their services in the process of production of goods and services. The remuneration paid in
this way is considered a factor income or income earned by factors of production. Under this method, factor income earned
by the owners of factors of production in return for their contribution to the production process of the nation is added to
compute GDP. So, gross domestic income under this approach is the sum of all the incomes earned by owners of factors
of production of a nation.

आय द्रवद्रि को द्रवशेषताहरु/ Features of Income Method

• यस नवनिले उत्पादनका सािनहरुको आयको पक्षबाट िीडीपीको मापन गदिछ. This method measures the value of national
income from the factor income side
• आय नवनिले कािक लागिमा िीडीपी मापन गदिछ। The income method determines national income at factor costs
• आय नवनिले उत्पादनका सािनका मानलकहरूले ज्याला, भाडा, ब्याि, ि नाफाको नहसाबले कमाएको आम्दानी मापन गदै िीडीपी मापन
गदिछ। The income method considers income earned by the owners of the factors of production in terms of wages,
rent, interest, and profit in return for their contribution to the production process.
• कमिचािीहरूको क्षनिपनू िि, सञ्चालन अनिशेष, नमनश्रि आय, स्व-िोिगािबाट प्राप्त आय, आनद यस नवनिका प्रमख
ु घटक हुन।्
Compensations of employees, operating surplus, mixed-income, income from self-employment, etc. are major
components of this method.

𝐺𝐷𝑃 𝑎𝑡 𝐹𝐶 = 𝐶𝑂𝐸 + 𝑂𝑆 + 𝑀𝑖𝑥𝑒𝑑 𝐼𝑛𝑐𝑜𝑚𝑒 + 𝐼𝑛𝑐𝑜𝑚𝑒 𝑓𝑟𝑜𝑚 𝑆𝑒𝑙𝑓 𝐸𝑚𝑝𝑙𝑜𝑦𝑚𝑒𝑛𝑡

+ 𝐷𝑒𝑝𝑟𝑒𝑐𝑖𝑎𝑡𝑖𝑜𝑛

Where
COE= Wages and salaries+ Employer’s contribution to social security+ Bonus + Monetary value of other facilities. (COE
= ज्याला ि िलब + सामानिक सिु क्षामा िोिगािदािाको योगदान + बोनस + अन्य सनु विाहरूको मौनिक मल्ू य।)

Operating Surplus (OS)=It is property income earned by the owners for their contribution of property in the production
process of an economy. Operating surplus (OS) = Rent + Interest + Profit (Profit= Undistributed profit+ Dividend +
Corporate income tax). (अपिे नटङ सिप्प्लस (OS) = यो अथििन्रको उत्पादन प्रनियामा सम्पनत्तको योगदानको लानग मानलकहरूले कमाएको
सम्पनत्त आय हो। सञ्चालन अनिशेष (OS) = भाडा + ब्याि + लाभ (लाभ = अनविरिि लाभ + लाभाश ं + कपोिे ट आयकि)

Mixed-Income = Labour and capital Income earned from agriculture, trading, transport, sole proprietorship, various
professions like the legal and medical profession, etc. (नमनश्रि आय = कृ नष, व्यापाि, यािायाि, एकल स्वानमत्व, नवनभन्न पेशाहरू िस्िै
कानूनी ि नचनकत्सा पेशा, आनदबाट कमाएको श्रम ि पुँिी आम्दानी।)

Note: आय द्रवद्रधमा तलका आम्दाद्रनहरु पदैनन्।The following forms of income are not included in the income method.

→ सेकेन्ड ह्याण्ड बस्िु नबिीबाट प्राप्त आम्दानन/Earnings from the sale of second-hand goods
→ शेयि ि बोन्ड बाट प्राप्त आम्दानन/Earnings from shares and bonds
→ सिकािबाट प्राप्त हस्िान्ििणीय आम्दानन/Transfer income received from the government
→ उत्पादन प्रनियामा सहभागी नहुदा पनन प्राप्त आम्दानन/Income earned even without participating in the production process
→ गैि कानुनन आम्दानन/Illegal income

Example of Income Method to Measure GDP

Components of GDP Amount

Wages and salaries 100
Rent 50
Interest 50
Profit 100
Mixed-income from self-employment 50
Depreciation 20

GDP at Factor Cost 370

Add: Net Indirect Tax 30
GDP at Market Price 400

Expenditure Method/ खचग द्रवद्रध

Under this method, GDP is calculated based on total expenditure made by the residents of an economy during a year. Thus,
the expenditure method is measured considering disposal or spending by various economic agents. It measures GDP by
estimating expenditure on domestically produced final products at market prices during a year. यस नवनि अन्िगिि, एक वषिमा
देशका बानसन्दाहरूले गिे को कुल खचिको आिािमा िीडीपी गणना गरिन्छ। नवनभन्न आनथिक एिेन्टहरूले एक बषिमा देशद्रित्र उत्पाद्रदत अनन्िम बस्िु
िथा सेवाहरुमा गिे को खचिलाई समाबेस गिे ि िीडीपी मापन गरिन्छ । यसले एक वषिको अवनिमा बिाि मल्ू यमा GDP मापन गदिछ।

Components/ अवयवहरू
Personal consumption expenditure व्यद्रिगत उपभोग खचग (C): It is expenditure made by households on final goods and
services during a year. It involves expenses on durable goods, nondurable goods, and services. एक वषिमा अनन्िम वस्िु ि
सेवाहरूमा घिपरिवािले गिे को खचि। यसमा नटकाउ वस्िुहरू, नटकाउ नहुने वस्िुहरू ि सेवाहरूमा हुने खचिहरू समावेश हुन्छन्।

Gross capital formationकूल पूूँजी द्रनमागण(I): It is the investment expenditure made by the private sector. It includes gross
fixed business investment, inventory investment, and, residential investment (new houses). यो ननिी क्षेरले गिे को लगानी हो।
यसमा सकल नननिि व्यापाि लगानी, मौज्दाि लगानी, ि, आवासीय लगानी (नयाँ घिहरू) समावेश हुन्छन्।

Government expenditure सरकारी खचग (G): It includes government current and capital expenditure on different heads
excluding the transfer payments. यसमा हस्िान्ििण भक्त
ु ानी बाहेक नवनभन्न शीषिकहरूमा सिकािी चालु ि पूँिीगि खचिहरू समावेश हुन्छन्।

Net Export खुद द्रनयागत (X-M): It is the difference between export (X) and import (M). यो ननयािि (X) ि आयाि (M) बीचको
नभन्निा हो।

C+I+G मा खदु ननयाििको िकमलाई िोड् नु भनेको घिपरिवाि, नननि क्षेर ि सिकािले प्रयोग गिे को आयानिि बस्िु िथा सेवा घटाउनु ि देशनभर उत्पानदि
ि ननयािि गिे को बस्िु िथा सेवा िोड् नु हो। यसो गदाि देश नभर मार उत्पादन हुने अनन्िम वस्िु िथा सेवाको बिाि मल्ू य सुनननिि हुन्छ ि िसलाई GDP
भननन्छ। Adding the net export amount to C + I + G means reducing the imported goods and services used by households,
private sector and government and adding goods and services produced and exported within the country. Doing so ensures
the market value of the final goods and services produced only within the country and which is called GDP.

Note: खचग द्रवद्रधमा ध्यान द्रदनुपने कुराहरु/Things to pay attention to in the spending method

→ नबगिमा उत्पादन गरिएका बस्िु खरिदमा गरिएको खचि यहा िे कडि गरिदैन।Expenditure on the purchase of goods produced in the
past is not recorded here.
→ सेकेन्ड ह्यान्ड बस्िु खरिदमा गरिएको खचि यहा पदैन। Expenses incurred in purchasing second-hand items are not included
here
→ शेयि ि बोन्ड खरिदमा खचि गरिएको िकम यहा िानखदैन। The amount spent on the purchase of shares and bonds is not kept
here.
→ सिकािे ल गिे को रान्सफि खचि यहा समावेश गरिदैन। Government transfer costs are not included here.
→ मध्यस्थ बस्िुहरु खरिद गदािको खचिहरु यहा समावेश गरिदैन। Expenses for purchasing intermediaries are not included here.

Example of Expenditure Method to Measure GDP

Components of GDP Amount

Private final consumption expenditure (C) 100
Private investment in final goods and services (I) 50
Government final consumption expenditure (G) 50
Government investment expenditure (G) 100
Net Export (X-M) -50
GDP at Market Price = C+I+G+(X-M) 250

जीडीपी द्रकन महत्वपण

ू ग छ ?Why is GDP important?

GDP is important because it gives information about the size of the economy and how an economy is performing. The
growth rate of real GDP is often used as an indicator of the general health of the economy. When real GDP is growing
strongly, employment is likely to be increasing as companies hire more workers for their factories and people have more
money in their pockets. When GDP is shrinking, employment often declines. Thus, Economists can use GDP to determine
whether an economy is growing or experiencing a recession. Investors can use GDP to make investment decisions—a bad
economy means lower earnings and lower stock prices. The major uses of GDP can be pointed out below. GDP महत्त्वपूणि छ
नकनभने यसले अथिव्यवस्थाको आकाि ि अथििन्र कसिी प्रदशिन गरििहेको छ भन्ने बािे िानकािी नदन्छ। वास्िनवक GDP को वृनद्ध दि अक्त्सि
अथिव्यवस्था को सामान्य स्वास््य को एक सचू क को रूप मा प्रयोग गरिन्छ। िब वास्िनवक िीडीपी बनलयो रूपमा बनढिहेको हुन्छ, िोिगािी बढ्ने
सम्भावना पनन बढाउछ नकनभने कम्पनीहरूले आफ्ना कािखानाहरूको लानग िेिै कामदािहरू िाख्छन् ि माननसहरूको खल्िीमा िेिै पैसा हुन्छ। िब
िीडीपी संकुनचि हुन्छ, िोिगािी अक्त्सि घट् छ। िसथि, अथिशास्त्रीहरूले अथििन्र बढ्दै छ वा मन्दीको अनुभव गदैछ भनेि ननिाििण गनि GDP प्रयोग गनि
सक्त्छन्। लगानीकिािहरूले लगानी ननणियहरू गनि GDP प्रयोग गनि सक्त्छन्। उनीहरुको लानग खिाब अथिव्यवस्था भनेको कम आयको िनाउ हुन् सक्त्दछ।
GDP को प्रमख ु उपयोगहरू िल उल्लेख गनि सनकन्छ।

• GDP exhibits the productive capacity of the economy. िीडीपीले अथििन्रको उत्पादक क्षमिा देखाउँछ।
• GDP also shows the employment-generating capacity of the economy. GDP ले अथिव्यवस्था को िोिगािी सृिना गने
क्षमिा पनन देखाउँछ
• An increase in GDP per capita indicates the living standards of the nation. प्रनिव्यनक्त िीडीपीमा भएको वृनद्धले िाष्ट्रको
िीवनस्ििलाई सङ् के ि गछि ।
• GDP also determines other major macro variables such as exports, government revenue, the balance of payment,
etc. An increase in the GDP of a nation leads to an increase in exports, government revenue, and a favorable
balance of payment. GDP ले ननयािि, सिकािी िािस्व, भक्त ु ानी सन्िल
ु न, आनद िस्िा अन्य प्रमख
ु म्यािो चिहरू पनन ननिाििण गदिछ।
िाष्ट्रको GDP मा वृनद्धले ननयािि, सिकािी िािस्व, ि भक्त
ु ानी सन्िुलनमा वृनद्ध हुन्छ।
• GDP is the indication of the economic health of a nation. Economists look at positive GDP growth between
different periods to assess how much an economy is flourishing. Conversely, if there is negative GDP growth, it
may be an indicator that an economy is in or approaching a recession or an economic downturn. GDP भनेको िाष्ट्रको
आनथिक स्वास््यको संकेि हो। अथिशास्त्रीहरूले अथििन्र कनि फस्टाउँदैछ भनेि मल्ू याङ् कन गनि नवनभन्न समय अवनिहरू बीचको सकािात्मक
िीडीपी वृनद्धलाई हेछिन्। यसको नवपरिि, यनद िनकािात्मक िीडीपी वृनद्ध छ भने, यो अथििन्र मन्दी वा आनथिक मन्दीमा छ वा ननिक छ
भन्ने सूचक हुन सक्त्छ।
• GDP provides a basis for international comparison. GDP ले अन्ििािनष्ट्रय िुलनाको लानग आिाि प्रदान गदिछ।

GDP is not everything! Its Weaknesses/alternatives to GDP/ GDP सबै कुरा होइन! यसका कमजोरीहरू र यसका अल्टरनेटहरु।

• GDP is very important to report the economic performance of the nation. However, it is also important to
understand what GDP cannot tell us. GDP is not a measure of the overall standard of living or well-being of a
country. िाष्ट्रको आनथिक कायिसम्पादन रिपोटि गनि िीडीपी िेिै महत्त्वपूणि छ। यद्यनप, यो पनन बुझ्न महत्त्वपूणि छ नक GDP ले हामीलाई सबै
कुिा बिाउन सक्त्दैन। GDP कुनै देशको समग्र िीवनस्िि वा कल्याणको मापन होइन।
• GDP does not capture things that may be deemed important to general well-being. So, for example, the increased
output may come at the cost of environmental damage or other external costs such as noise. Or it might involve
the reduction of leisure time or the depletion of non-renewable natural resources. GDP ले सामान्य कल्याणको लानग
महत्त्वपूणि माननने चीिहरूबािे िानकािी प्रदान गदैन। उदाहिणका लानग, बढेको उत्पादनले वािाविणीय क्षनि वा अन्य बाह्य लागिहरू बढाउन
सक्त्दछ। वा यसले फुसिदको समय घटाउने वा ननवकिणीय प्राकृ निक स्रोिहरूको कमी ल्याउने हुन् सक्त्दछ।
• The quality of life may also depend on the distribution of GDP among the residents of a country, not just the
overall level. िीवनको गुणस्िि पनन देशका बानसन्दाहरू बीच िीडीपीको समग्र बृद्दीमा मार नभएि यसको नवििणमा ननभिि हुन सक्त्छ।
• To try to account for such factors, the United Nations computes a Human Development Index, which ranks
countries not only based on GDP per capita, but on other factors, such as life expectancy, literacy, and school
enrolment. Other attempts have been made to account for some of the shortcomings of GDP, such as the Genuine
Progress Indicator and the Gross National Happiness Index, but these too have their critics. िीडीपीका नयनै कनमहरुका
 कािण सो कािकहरूको लानग लेखािोखा गनि, संयुक्त िाष्ट्र संघले मानव नवकास सूचकांक गणना गदिछ, िसले देशहरूलाई प्रनिव्यनक्त
िीडीपीको आिािमा मार नभई िीवन प्रत्याशा, साक्षििा, ि नवद्यालय भनाि िस्िा अन्य कािकहरूमा पनन स्थान नदन्छ। अन्य प्रयासहरूमा
िीडीपीका कमिोिीहरूको लानग लेखािोखा गने प्रयास गरिएका छन्, िस्िै वास्िनवक प्रगनि सूचक ि सकल िानष्ट्रय खुशी सूचकाङ् क।

In one number figure, a country's GDP can convey a very limited range of information about that country's economy.
Despite this, it remains a helpful and useful data point for economists and investors. समग्रमा भन्नु पदाि एउटा संख्याको आंकडामा,
कुनै देशको िीडीपीले त्यो देशको अथििन्रको बािे मा िेिै सीनमि दायिाको िानकािी प्रदान गनि मार सक्षम हुन्छ। यसका बाविदु , यो अथिशास्त्रीहरू ि
लगानीकिािहरूको लानग उपयोगी ि उपयोगी डेटा नबन्दु बनेको छ।

GDP of NEPAL: Facts, Trend, and Measurement (नेपालको GDP: तथ्य, प्रवृद्रि, र मापन)

• The first attempt to estimate the national income of Nepal was made in 1961. नेपालको िानष्ट्रय आय अनमु ान गने पनहलो
प्रयास सन् १९६१ मा भएको नथयो ।
• Publication of the GDP was started in 1964/65. Since then the national accounts statistics are being prepared
regularly. GDP को प्रकाशन 1964/65 मा सरुु भएको नथयो। त्यसयिा िानष्ट्रय लेखाको ि्याङ् क ननयनमि रूपमा ियाि हुदँ ै आएको छ ।
• Currently, GDP compilation is based on the System of National Accounts (SNA) recommendations and the
current series are based on SNA 2008. हाल, GDP संकलन िानष्ट्रय लेखा प्रणाली (SNA) नसफारिसहरूमा आिारिि छ ि हालको
श्रृख
ं ला SNA 2008 मा आिारिि छ।
• The current base year is 2010/11. हालको आिाि वषि २०१०/११ हो
• We have adopted New Classifications (International Standard Industrial Classification-ISIC rev, 4.0, CPC 2.0).
हामीले नयाँ वगीकिण (अन्ििािनष्ट्रय मानक औद्योनगक वगीकिण-ISIC, 4.0, CPC 2.0) अपनाएका छौं।
• There are 18 major industrial divisions in ISIC of all economic analyses under SAN, 2008. SAN, 2008 अन्िगिि
सबै आनथिक गनिनवनिहरुलाई 18 प्रमख
ु औद्योनगक क्षेरहरुमा नवभािन गरिएको छ।
Industrial Classification
A Agriculture, forestry, and fishing
B Mining and quarrying
C Manufacturing
D Electricity, gas, steam, and air conditioning supply
E Water supply; sewerage, waste management, and remediation activities
F Construction
G Wholesale and retail trade; repair of motor vehicles and motorcycles
H Transportation and storage
I Accommodation and food service activities
J Information and communication
K Financial and insurance activities
L Real estate activities
M Professional, scientific, and technical activities
N Administrative and support service activities
 O Public administration and defense; compulsory social security
P Education
Q Human health and social work activities
R, S, T, U Arts, entertainment, and recreation; Other service activities

Measurement of GDP in Nepal

In Nepal, GDP is measured by using the Value-Added Method. It takes the following steps. नेपालमा, GDP लाई मल्ू य
अनभवृनद्ध नवनि प्रयोग गिे ि मापन गरिन्छ। यसले ननम्न चिणहरू पालना गदिछ।

1. First, the value of the gross output of all the 18 industrial sectors is estimated. Similarly, the cost of raw materials
or the cost of intermediate consumption by all the 18 industrial sectors is estimated. पनहलो, सबै 18 औद्योनगक
क्षेरहरूको कुल उत्पादनको मल्ू य अनुमान गरिन्छ। त्यसैगिी १८ सबै औद्योनगक क्षेरको कच्चा पदाथिको लागि वा मध्यविी उपभोगको
लागि पनन मापन गरिन्छ।
2. The gross value added is calculated. The difference between the gross value of the output of all the industries
and intermediate consumption by all the industries is known as gross value addition. This gives gross value
addition made by all the 18 industrial sectors of the GDP of Nepal. यसपछाडी कुल मल्ू य अनभवृनद्ध गणना गरिन्छ। सबै
उद्योगहरूको उत्पादनको कुल मल्ू य ि सबै उद्योगहरूले गिे को मध्यविी उपभोग लागि बीचको नभन्निालाई कूल मल्ू य अनभवृनद्ध भननन्छ।
यसले नेपालको कुल गाहिस््य उत्पादन (िीडीपी) को सबै १८ औिोनगक क्षेरले गिे को कुल मल्ू य अनभवृनद्धको मान सुनननिि गदिछ।
3. GDP is calculated by adding the gross value addition made by all 18 industrial sectors is known as GDP at the
basic price. If net indirect taxes are added to GDP at the basic price, then GDP at market price is estimated.
अन्त्यमा GDP को गणना गरिन्छ। सबै 18 औद्योनगक क्षेरहरूले गिे को कुल मूल्य अनभवृनद्धलाई िोडेि आउने िोडफल लाइ आिािभिू
मल्ू यमा मापन गरिएको GDP भननन्छ। आिािभिू मल्ू यमा कुल अप्रत्यक्ष किहरू िोड् दा बिाि मल्ू यमा मापन गरिएको GDP प्राप्त हुन्छ।
यसलाई िलको िानलकाहरुले प्रस्ट पािे को छ।
The value of the GDP of Nepal determined based on the value-added method is presented in the following table. मल्ू य
अनभवृनद्ध नवनिको आिािमा ननिाििण गरिएको नेपालको GDP को मान ननम्न िानलकामा प्रस्िुि गरिएको छ।
Year 2076/77 2077/78 2078/79*
A. Gross Value Addition (Rs. In 6036 6446 7356
billion)
B. Cost of Intermediate 2608 2783 3251
Consumption (Rs. In billion)
C. GDP at Basic Price [A-B] 3428 3663 4105
(Rs. In billion)
D. Net Indirect Tax on Products 460 614 746
(NIT) (Rs. In billion)
E. GDP at Purchaser’s Price 3, 888 4, 277 4851
[C+D] (Rs. In billion)
Source: CBS, 2022; * ESTIMATED
Structure of GDP of Nepal/Nepalese Economy
The structure of the Nepalese economy for fiscal year 2078/79 can be expressed below.
Product Method Income Method Expenditure Method
Primary Sector: 24.5 % Compensation to Employees (COE): Consumption (C) = 97.44%
35.40%
 Secondary Sector: 13.7% Operating Surplus: 49.17% Investment (I) = 40.01%
Tertiary Sector: 61.8% NIT: 15.42% Export (X) = 7.10%
Import (M) = -44.55%
100% 100% 100%
Note: percentage values are computed based on data from CBS
Gross National Product (GNP)
Gross National Product (GNP) is the market value of all newly produced final goods and services produced by the residents
of a nation during a particular period. It is calculated by adding the net factor from abroad (NFIA) to the amount of GDP.

GNP = GDP + NFIA

Where
NFIA = Factor income earned by residents from abroad - Factor payment made to foreign residents working in the domestic
economy.

𝐺𝑁𝑃 𝑎𝑡 𝑀𝑃 = 𝐺𝐷𝑃 𝑎𝑡 𝑀𝑃 + 𝑁𝐹𝐼𝐴

𝐺𝑁𝑃 𝑎𝑡 𝐹𝐶 = 𝐺𝐷𝑃 𝑎𝑡 𝐹𝐶 + 𝑁𝐹𝐼𝐴
𝐺𝑁𝑃 𝑎𝑡 𝑀𝑃 = 𝐺𝐷𝑃 𝑎𝑡 𝐹𝐶 + 𝑁𝐼𝑇
𝐺𝑁𝑃 𝑎𝑡 𝐹𝐶 = 𝐺𝑁𝑃 𝑎𝑡 𝑀𝑃 − 𝑁𝐼𝑇
GDP versus GNP
The following table shows the differences between GDP and GNP
Basis GDP GNP
Definition GDP is the monetary value of currently GNP is the market value of all currently produced
produced final goods and services final goods and services within the domestic
produced within the domestic boundary of boundary of a nation during a year plus NFIA.
a nation during a time.
Need of NFIA GDP does not require NFIA to compute the GNP requires NFIA to compute the market value of
market value of currently produced final currently produced final goods and services by the
goods and services. residents of a nation.
Economic It includes economic activities within the It includes economic activities within a nation as
Activities domestic territory of a nation. well as abroad.
Reflection It shows the production capacity as well as It does not show production as well as job creation
the job creation capacity of a nation. capacity.

Net National Product (NNP)

Net National Product (NNP) is the market value of final goods and services produced by the residents of a nation during a
particular period minus the amount of depreciation/capital consumption allowances/consumption of fixed capital. Thus,

NNP = GNP - Depreciation

NNP = GDP +NFIA -Depreciation

𝑁𝑁𝑃 𝑎𝑡 𝑀𝑃 = 𝐺𝑁𝑃 𝑎𝑡 𝑀𝑃 − 𝐷
𝑁𝑁𝑃 𝑎𝑡 𝐹𝐶 = 𝐺𝑁𝑃 𝑎𝑡 𝐹𝐶 − 𝐷
𝑁𝑁𝑃 𝑎𝑡 𝑀𝑃 = 𝐺𝑁𝑃 𝑎𝑡 𝐹𝐶 + 𝑁𝐼𝑇 − 𝐷
𝑁𝑁𝑃 𝑎𝑡 𝐹𝐶 = 𝑁𝑁𝑃 𝑎𝑡 𝑀𝑃 − 𝑁𝐼𝑇 − 𝐷
Per Capita Income/ प्रद्रतव्यद्रि आय
Per capita income is the average income of the normal residents of a country in a particular year. It is the income per head
of the population. It is obtained by dividing the national income of a country for a time by the population of the same time.
प्रनिव्यनक्त आय भनेको कुनै देशका सामान्य बानसन्दाको कुनै खास वषिको औसि आय हो। यो िनसख्ं याको प्रनि व्यनक्त आम्दानी हो। यो कुनै देशको
नननिि समयको िानष्ट्रय आयलाई सोनह समयको िनसंख्याले भाग गिे ि प्राप्त हुन्छ।
Why is it important? यो द्रकन महत्त्वपूर्ण छ?

• PCI shows the standard of living and quality of life for a population at a given time. The increase in per capita
income is assumed to increase the living standard of the people of the country. PCI ले नननिि समयमा िनसंख्याको
िीवनस्िि ि िीवनको गुणस्िि देखाउँछ। प्रनिव्यनक्त आयमा भएको बृनद्धले देशका िनिाको िीवनस्ििमा बृनद्ध देखाउने िकि गरिन्छ।
• A higher per capita income represents higher purchasing power, as members of the community have more money
to spend. उच्च प्रनिव्यनक्त आय हुनु भनेको समदु ायका सदस्यहरूसँग खचि गनिको लानग बढी पैसा हुन्छ भन्ने बुनिन्छ ि त्यसकािण यसले
व्यनक्तहरुको िय शनक्तलाई पनन देखाउदछ ।
• Pec Capita Income also provides the basis for international comparison. प्रनि व्यनक्त आयले अन्ििािनष्ट्रय िुलनाको लानग
आिाि पनन प्रदान गदिछ।
नेपालमा प्रद्रत व्यद्रि आय/Per capita income in Nepal

• नेपालमा िानस्रय आय नाननकानलने हुनाले प्रनिव्यनक्त आय पनन मापन गरिदैन।As national income is not generated in Nepal, per
capita income is also not measured.
• नेपालमा प्रनि व्यनक्त GDP, प्रनि व्यनक्त GNI ि प्रनि व्यनक्त GNDI मापन गरिन्छ। In Nepal, per capita GDP, per capita GNI and
per capita GNDI are measured by using the following formula.
GDP GNI GNDI
Per Capita GDP = ; Per Capita GNI = ; Per Capita GNDI =
Average Population Average Population Average Population

Components like GDP, GNI, and GNDI are measures of the contribution throughout the year so they are divided by the
average population. GDP, GNI, ि GNDI िस्िा ित्वहरु वषिभरिको योगदानको मापन हुन् त्यसैले प्रनि व्यनक्त आयको मापन गणना गनि औसि
िनसख्ं याद्वािा भाग गनिु पदिछ।
Trend of Per Capita GDP, Per Capita GNI and Per Capita GNDI in Nepal
 5000
1683
4500 1557
1467 1514
1462
4000
1327
3500
1139 1156
3000 1008 1028 1069 1381
979
1206 1246
1175 1170
2500 1042
836 884 893
2000 818 814 820
1372
1500 1168 1194 1156 1239
1032
814 808 814 824 871 882
1000

500

0
2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22

GDP Percapita GNI Percapita GNDI Percapita

Source: CBS, 2022

Personal Income (PI)
Personal income (PI) is income received by persons of a nation. Thus, PI is the current income received by persons from
all the resources, including transfer income from government and businesses. The following adjustments are needed to do
with national income to get the value of personal income.

PI = NI - Social Security Contribution/Taxes - Corporate Income Tax - Undistributed Corporate Profit + Transfer
Payments

Disposable Income/Disposable Personal Income

The income left after deducting personal taxes from personal income is called disposable income.

DI= PI - Personal Income Tax or DI = Consumption + Saving

MACROECONOMIC DATA
A. Gross Domestic Product at Current Market Price (GDP at MP); Constant Price (RGDP); Economic Growth
Rate, and Composition of GDP at MP (Rs. in millions)

Time GDP Composition of GDP

Economic Primary Secondary Tertiary
Growth Sector Sector Sector
Year Year GDP at MP RGDP Rate
2068/69 2011/12 1758379 1,632,040 4.67 33.3 14.6 52.1
2069/70 2012/13 1949295 1,689,572 3.53 32.0 14.5 53.5
2070/71 2013/14 2232525 1,791,141 6.01 30.9 14.4 54.7
2071/72 2014/15 2423638 1,862,357 3.98 30.0 14.0 56.0
2072/73 2015/16 2608184 1,870,424 0.43 29.0 13.5 57.5
2073/74 2016/17 3077145 2,038,337 8.98 27.4 14.0 58.6
2074/75 2017/18 3455949 2,193,706 7.62 26.2 14.5 59.2
2075/76 2018/19 3858930 2,339,743 6.66 25.6 14.4 60.1
2076/77 2019/20 3888704 2,284,300 -2.37 25.8 13.1 61.2
 2077/78 2020/21 4277302 2,381,313 4.25 25.5 13.1 61.4
2078/79 P 2021/22 4851625 2,520,322 5.84 24.5 13.7 61.8
Source: CBS, 2021/22

• आर्थिक वर्ि २०७७/७८ मा नेपालको जीडीपीको आकार उपभोक्त्ता मल्ु यमा ४२ खवि ७७ अवि (४२.७७ खवि अथवा
४२७७ अर्ि) ३० करोड पगु क
े ो छ।/ In the Fiscal Year 2077/78, the size of Nepal's GDP in consumer
price has reached 42.77 trillion or (4277 billion) 300 million.
• चालु आर्थिक २०७८/७९ को अन्त्यसम्म यो आकार ४८ खवि ५१ अर्ि ६३ करोड पग्ु ने प्रक्षेपण गररएको छ। अथवा
४८५१ अवि ६३ करोड पग्ु ने। By the end of the current Fiscal Year 2078/79, this size is Rs. 48.51
trillion 630 million is projected. Or 4851.63 billion.
B. Per Capita Income: Per Capita GDP, Per Capita GNI, and Per Capita GNDI in terms of NRS and USD

• Per capita GDP

• Per capita GNI
• Per capita GNDI
Description 2075/76 2076/77 2077/78 2078/79P
2018/19 2019/20 2020/21 2021/22
Per capita GDP (NRs.) 134766 134501 146521 164598
Per capita GNI (NRs.) 136160 136096 147318 165649
Per capita GNDI (NRs.) 170901 170069 184018 201923
Per capita GDP at a constant price (NRs.) 81711 79009 81573 85505
Per capita GNI at a constant price (NRs.) 85923 81699 85957 90956
Per capita GNDI at a constant price (NRs.) 107847 102092 107371 110874
Per capita incomes in US$
Nominal Per capita GDP (US$) 1194 1156 1239 1372
Nominal Per capita GNI (US$) 1206 1170 1246 1381
Nominal Per capita GNDI (US$) 1514 1462 1557 1683
Sources: CBS, 2022

C. Provincial GDP Related Data

a). GDP at Consumers Price (GDP at MP): Ranking from highest to lowest
Rank Province Contribution to National GDP in 2078/79
1 Bagmati 36.9
2 Province 1 15.7
3 Lumbini 14.1
4 Madhes 13.2
5 Gandaki 8.9
6 Sudur Paschim 7.0
7 Karnali 4.1
Source: CBS, 2022
b). आर्थिक बर्ि २०७८/७९ मा प्रदेशस्तरमा कुल गार्िस््य उत्पादन उपभोक्ताको मूल्यमा (रू करोडमा)
 179068

76327 64428 68488

43180 33872
19800

c). आर्थिक बर्ि २०७८/७९ मा प्रदेशस्तरीय कुल गार्िस््य उत्पादनको बृर्ि दर (GDP at Purchasers Price)

d). आर्थिक बर्ि २०७८/७९ मा प्रदेशस्तरीय बृर्त आर्थिक कृ याकलापको योगदान (प्रर्तशतमा)
 49.10 53.58 54.54 51.84
55.61 57.43
76.69

सेवा क्षेत्र
17.32 11.93 14.31
15.39 10.86 अौ द्योगिक क्षेत्र
17.56
प्राथगिक क्षेत्र

33.58 34.49 11.43 30.07 31.71 33.84

26.83
11.88

D. Other Key Macroeconomic Indicators

 आ.व. २०७८/७९ मा के ही प्रमख
ु आनथिक सूचकहरूको अवस्था (Key Macroeconomic Indicators)

• कुल गाहिस््य उत्पादन वृनद्धदि (Growth rate) उपभोक्ताको मल्ू यमा ५.८४ प्रनिशि ।
• कुल गाहिस््य उत्पादन वृनद्धदि (Growth rate) आिािभिू मल्ू यमा ५.४९ प्रनिशि ।
• चालु मल्ू य अनुसाि कुल उत्पादन (Gross Output) आिािभिू मल्ू यमा रु. ७३ खवि ५६ अिब ६१ किोड ।
• चालु मल्ू य अनुसाि कुल मध्यविी उपभोग (Intermediate Consumption) उपभोक्ताको मल्ू यमा रु. ३२ खवि ५१ अिब ६ किोड ।
• चालु मल्ू य अनुसाि कुल गाहिस््य उत्पादन (GDP) आिािभिू मल्ू यमा रु. ४१ खवि ५ अिब ५४ किोड ।
• चालु मल्ू य अनुसाि कुल गाहिस््य उत्पादन उपभोक्ताको मल्ू यमा रु. ४८ खवि ५१ अिब ६३ किोड ।
• चालु मल्ू यमा कुल नस्थि पुँिी ननमािण (Gross fixed capital formation) रु. १४ खवि २५ अिब ८ किोड (कुल गाहिस््य उत्पादनको २९.३७
प्रनिशि)।
• चालु मल्ू यमा अनन्िम उपभोग खचि (Final consumption expenditure) रु. ४४ खवि १ अिब ६७ किोड (कुल गाहिस््य उत्पादनको
९०.७३ प्रनिशि)।
• चालु मल्ू यमा वस्िु िथा सेवा ननयािि (Export) रु. ३ खवि २० अिब ७१ किोड (कुल गाहिस््य उत्पादनको ६.६१ प्रनिशि) ।
• चालु मल्ू यमा वस्िु िथा सेवा अयाि (Import) रु. १८ खवि २० अिब ८२ किोड (कुल गाहिस््य उत्पादनको ४१.४९ प्रनिशि) ।
• चालु मल्ू यमा कुल िानष्ट्रय वचि (Gross National Saving) कुल गाहिस््य उत्पादनको ३१.९५ प्रनिशि ।
• नवप्रेषण रु. ९ खवि ६१ अिब ७ किोड (कुल गाहिस््य उत्पादनको १९.८१ प्रनिशि) ।
• प्रनिव्यनक्त कुल गाहिस्थ उत्पादन रु १,६४,५९८ अथािि १,३७२ य.ु एस डलि ।
• प्रनिव्यनक्त कुल िानष्ट्रय उत्पादन रु १,६५,६४९ अथािि १,३८१ य.ु एस डलि ।

Division of Nepalese Economy

• Primary Sector: A+B

• Secondary Sector: C+…. +F
• Tertiary Sector: G+…+ U
• Agriculture Sector: A

Difficulties of Measurement of National Income

Conceptual Difficulties/वैचाररक कद्रठनाइहरू
These difficulties are faced by almost all the nations when estimating their national GDP/income. Major
conceptual difficulties are listed below. यी कनठनाइहरू लगभग सबै िाष्ट्रहरूले िानष्ट्रय GDP/आय अनुमान गदाि सामना
गरििहेका हुन्छन। प्रमख
ु वैचारिक कनठनाइहरू ननम्नानुसाि सचू ीबद्ध गनि सनकन्छ ।

• The Problem of Double Counting

When the same good is accounted for at least two times in the estimation of national income then it is
called double counting. Sometimes, it becomes difficult to make a clear distinction between intermediate,
and final goods. For example, if we include the price of sugarcane and sugar as final products then there
is a problem with double counting. The use of the value-added method can remove the problem of double
counting as it only considers gross value addition made in every stage of production from the starting to
the final stage.
िानष्ट्रय आयको अनुमानमा एउटै बस्िुलाई कम्िीमा दईु पटक गणना गरिन्छ भने त्यसलाई दोहोिो गणना भननन्छ। कनहलेकाही ँ,
मध्यविी ि अनन्िम वस्िहु रु बीचको स्पि नभन्निा छुट्याउन गाह्रो हुन्छ। उदाहिणका लानग, हामीले उखु ि नचनीको मल्ू यलाई अनन्िम
उत्पादनको रूपमा समावेश गिे मा दोहोिो गणनाको समस्या पैदा हुन्छ। नचनीको मल्ु यमा उखक ु ो मल्ु य समावेस भैसके को हुने हुदा
दोहोि गणनाको समस्या पैदा हुन्छ। मल्ू य अनभवृनद्ध नवनिको प्रयोगले दोहोिो गणनाको समस्यालाई हटाउन सक्त्छ नकनभने यसले
उत्पादनको सरुु देनख अनन्िम चिणसम्मको कुल मल्ू य अनभवृनद्धलाई मार समावेश गदिछ।

• Existence of Self-Produced and Self-Consumed Products/. स्व-उत्पाद्रदत र स्व-उपभोग उत्पादनहरू

Several products are produced for self-consumption. It is difficult to calculate the value of some of the
items such as services rendered for free and goods that are to be sold but are used for self-consumption.
So, having such non-monetized or non-economic production has underestimated the value of national
income. देशहरुमा स्व-उपभोगको उद्देश्यका लानग पनन उत्पादन गरिन्छ। नसत्तैमा उपलब्ि गिाइने सेवाहरू ि स्व-उपभोगका लानग
प्रयोग गरिने वस्िहु रू िस्िा के ही वस्िुहरूको मल्ू य गणना गनि गाह्रो हुन्छ। त्यसैले यस्िो गैि-मिु ीकृ ि वा गैि-आनथिक उत्पादन हुनुले
िानष्ट्रय आयको मल्ू यलाई कम आँकलन गिे को छ।

• Problem with Valuation of Government Services/सरकारी सेवाहरूको मूल्याङ्कनमा समस्या

Government services provided to people free of cost are also to be included in the national income.
However, it is very difficult to find the true values of such services since these are not sold through the
market. The valuation of services of many public goods like a museum or a park becomes highly
problematic. Similarly, the valuation of contributions made by government employees to the national
income is also not possible. िनिालाई ननःशल्ु क उपलब्ि गिाइने सिकािी सेवालाई पनन िानष्ट्रय आयमा समावेश गरिनुपछि
। यद्यनप, त्यस्िा सेवाहरूको वास्िनवक मल्ू यहरू फे ला पानि िेिै गाह्रो छ, नकननक यी बिाि माफि ि बेनचँदनै न्। संग्रहालय वा पाकि
िस्िा िेिै सावििननक वस्िहु रूको सेवाहरूको मल्ू याङ्कन अत्यनिक समस्याग्रस्ि हुन्छ। त्यस्िै, िानष्ट्रय आयमा सिकािी कमिचािीले
गिे को योगदानको मल्ू याङ्कन पनन ठोस रुपमा हुन सके को छै न ।

• Problem in Imputation
In economics, the economic cost is considered. When products are self-consumed then implied value is
needed to determine as economists believe that such imputed value is part of taxable income. For
example, income from owner-occupied houses and flats is a part of a person’s taxable income. Therefore,
it is a part of the national income. Such income is fixed based on notional rent. Even if an individual
keeps his house vacant, he must pay tax on notional rent. However, the valuation of such imputed income
is difficult as it differs from place to place and context to context. अथिशास्त्रमा, आनथिक लागिलाई समाबेश
माननन्छ। िब उत्पादनहरू स्व-उपभोग हुन्छन् िब नननहि मल्ू य ननिाििण गनि आवश्यक हुन्छ नकनभने अथिशास्त्रीहरू यस्िो अनभव्यक्त
मल्ू य कि योग्य आयको अंश मान्ने गदिछन। उदाहिणका लानग, मानलकले प्रयोग गरििहेका घिहरू ि फ्ल्याटहरूबाट हुने आम्दानी
व्यनक्तको कियोग्य आम्दानीको अश ं हो। त्यसैले यो िानष्ट्रय आयको एक नहस्सा हो। यस्िो आय काल्पननक भाडाको आिािमा िय
गरिएको हुन्छ। कुनै व्यनक्तले आफ्नो घि खाली िाख्दा पनन काल्पननक भाडामा कि निनुिपछि । यद्यनप, यस्िो अनभयक्त ु आयको
मल्ू याङ्कन गनि गाह्रो छ नकननक यो ठाउँ अनुसाि ि सन्दभि अनुसाि फिक हुन्छ।
Practical Difficulties

• Inadequate Data/Poor Record Management

There is a lack of adequate statistical data on the production of different goods and services and this
makes the task of estimation more difficult. The reason is that many people in LDCs like Nepal sell their
products in the market, but they do not maintain any official accounts of their transactions.
For example, most road-side small traders, and many other business enterprises in the unorganized sectors
mainly sole proprietorship organizations or single-owner firms and self-employed persons do not keep
proper records of their incomes and expenses.

• The Problem of Data Literacy

• Existence of Informal Economy
It is concerned with a diversified set of economic activities, enterprises, jobs, and workers that are not
regulated. In Nepal, 35 to 40 percent of economic activities are expected to be informal activities.

• Underground/Black/Parallel Economy
This economy consists of transactions that are never reported to tax and other government authorities. It
includes transactions involving illegal goods and services, such as trading in harmful drugs, gambling,
smuggling, and prostitution. These illegal goods and services are final products that are not included in
GDP.

• Lack of occupational specialization