Nepal, officially the Federal Democratic Republic of Nepal is a landlocked sovereign state located in South Asia. With about 27 million population made up of over 61 ethnic groups living in different regions speaking 70 languages and dialects, Nepal is the world’s 93rd largest country by land mass with area of 147,181 square kilometer. It is located in the Himalayan range with 8 of the world’s tallest mountains including Mt. Everest and bordered to the north by the People’s Republic of China, and to the south, east and west by the Republic of India. Hinduism is the major religion and is practiced by over 81.3% of the population. The birthplace of Buddha, about 16% of the population practice Buddhism. A small minority of Nepalese adheres to Islam and Christianity.
Agriculture remains Nepal’s principal economic activity, employing 70% of the population and providing 38% of GDP. Only about 20% of the total area is cultivable; another 33% is forested; most of the rest is mountainous. Industry sector by 15.3% and service sector by 46.6% constitutes GDP of Nepal as of 2012 estimate. While the remittance growth slowed to 11% in 2010/11 it has since increased to 37%, equivalent to 25%-30% of GDP. The export-oriented carpet and garment industries have grown rapidly in recent years and together now account for approximately 70% of merchandise exports.