The Bagmati province, which hosts Kathmandu Valley and remains the main economic hub of Nepal, is projected to witness the slowest economic growth rate among all provinces this fiscal year, ending mid-July.

Bagmati is expected to grow at 1.4 percent, largely due to slow consumer demand, according to the National Statistics Office.

Gandaki province has been projected to grow at 3.3 percent, the highest growth rate among all provinces.

The statistics office said that in the current fiscal year, Nepal’s total gross domestic price (GDP), at the purchaser’s price, is estimated to grow by 1.86 percent to Rs5.38 trillion.

Of the total output, Bagmati province is estimated to have the lion’s share of Rs1.98 trillion, or 36.8 percent.

The Karnali province is the lowest contributor with its output accounting for Rs221 billion, or 4.1 percent of the total GDP.

Sector-wise, agriculture is the largest contributor to the GDP from all provinces, except Bagmati.

The retail and wholesale trade sector is the largest contributor to the GDP in Bagmati.

Trading is the second largest contributor to the GDP of Koshi, Madesh and Lumbini provinces, whereas real estate and housing are the second largest contributor to the GDP in Bagmati.

Koshi province

The Koshi province is expected to grow at 2 percent to Rs849 billion this fiscal year, ending mid-July, the statistics office said. The Koshi province had grown by 5.47 percent to Rs780 billion in the last fiscal year. The contribution of Koshi province to the total GDP of the country is expected to be at 15.8 percent this fiscal year. The agriculture sector's contribution to Koshi province's GDP is estimated at 33.2 percent, the largest contributor among all economic activities.

Madesh province 

In the current fiscal year, Madesh province is estimated to grow at a rate of 1.69 percent to Rs707 billion. The growth rate in the last fiscal year was 4.63 percent. The contribution of Madesh province to the national GDP is estimated to be 13.1 percent. The agriculture sector is the highest contributor to Madesh province’s GDP, contributing 35.2 percent of its total economy. The mining and extraction sector has the lowest contribution at 0.2 percent.

Bagmati province

The Bagmati province is expected to grow at the rate of 1.44 percent this fiscal year to Rs1.98 trillion. In the last fiscal year, the Bagmati province had grown by 6.30 percent to Rs1.81 trillion. The Bagmati province's share of the national GDP is estimated to be at 36.86 percent this fiscal year. The wholesale and retail trade has the highest contribution, at 23.6 percent, to Bagmati province's GDP.

Gandaki province

In the current fiscal year, Gandaki province's economy is estimated to grow at 3.26 percent to Rs482 billion. In the last fiscal year, Gandaki province grew by 6.35 percent. This fiscal year, Gandaki province's contribution to the national GDP is estimated to be at 9 percent. Agriculture is the largest sector contributor to Gandaki province's GDP at 25.9 percent.

Lumbini province

In the current fiscal year, Lumbini province is estimated to grow at the rate of 2.06 percent to Rs762 billion. In the last fiscal year, Lumbini province had grown by 5.03 percent. Lumbini is estimated to contribute 14.2 percent to the national GDP this fiscal year. In Lumbini, the agriculture sector has the highest contribution to its GDP at 29.8 percent.

Karnali province

Karnali province is expected to grow at 1.91 percent this fiscal year to Rs221 billion. In the last fiscal year, Karnali province grew by 5.32 percent. Karnali province is estimated to contribute 4.1 percent to the national GDP in the current fiscal year. In Karnali, the agriculture sector is the largest contributor, with a 30.8 percent contribution, to its GDP.

Sudurpaschim province

In the current fiscal year, the Sudrpashchim province is expected to grow at the rate of 1.78 percent to Rs376 billion. In the last fiscal year, Sudurpaschim province grew by 4.78 percent. Sudurpashchim's contribution to the national GDP is estimated to be at 7 percent in the current fiscal year. The agriculture sector is the largest contributor to the province’s GDP, with 33.4 percent.