Nepal’s economy recorded a 3.4 percent growth in the first quarter (Q1) of the current fiscal year (FY) compared to the same period in the previous fiscal year, as reported by the National Statistics Office (NSO) on Tuesday. Key sectors driving this growth included transport, storage, accommodation, and food service activities.
The data, covering the period from mid-July to mid-October of FY 2024/25, reflects modest economic progress. This growth rate is calculated using the basic price benchmark of FY 2010/11.
However, when compared to the fourth quarter of FY 2023/24, the growth rate was almost negligible, standing at just 0.2 percent. Significant declines were observed in key sectors, with mining and quarrying contracting by 13.9 percent and wholesale and retail trade shrinking by 3.7 percent.
