Forests Play Significant Role in Nepal's Economy, Economic Survey Reveals

Kathmandu. According to the economic survey of the current fiscal year 2082/83 published by the government, forests have played a small but significant role in the economic sector.

According to the survey, 46.08 percent of Nepal's total land area is currently covered by forests and shrubbery. Of this, 43.38 percent is actual forest area and 2.70 percent is bushes and shrubbery.

The forest area, which was only 39.6 percent in the 1990s, has now increased. According to this data, Nepal has become the second country in South Asia with the most forest area after Bhutan.

23 Thousand Community Forests

According to the survey, 23,162 community forest user groups are currently active across the country, directly conserving and managing 2,509,825 hectares of forest area.

In addition to community forests, scientific forest management is also being carried out through 33 collaborative forests and 7,807 leasehold forest groups. Similarly, as private sector interest also grows, 5,552 private forests have been registered and brought into operation across the country.

Approximately one-fourth of the country's total land area, i.e., 23.4 percent, has been declared as protected areas. According to the latest data, the number of tigers in Nepal has reached 355, the number of rhinos is 752, and the number of wild buffaloes is 498. Similarly, the 2024 census shows that the number of blackbucks has reached 507.

2 Billion Revenue

By the end of Falgun in the fiscal year 2082/83, the country has succeeded in producing 21.6 million cubic feet of timber and 23,279 stacks of firewood. The state has collected revenue of 1.89 billion rupees from the forest sector alone.

This is obtained from entrance fees for protected areas, sales of timber and firewood, and fines. By the end of Falgun of the current fiscal year, employment equivalent to 1,915,318 workdays has been created through various forestry and environment programs.

940 Million from Carbon Trading

Nepal has started making income from its forests through carbon trading in the international market. Under the REDD+ program implemented in the Terai region, Nepal has earned 9.4 million US dollars, approximately 940 million rupees, for the first time for reducing 1.88 million tons of carbon emissions.

In addition, emission reduction purchase agreements have already been made to earn an additional 40 million US dollars by selling carbon from the forest areas of 36 districts in the Bagmati, Gandaki, and Lumbini provinces.

Conservation of 1323 Plant Species

The country has also made positive progress in the field of plant conservation and herbal processing. 1,323 species of plants are being conserved and promoted through 11 botanical gardens established across the country.

Similarly, the Herbs Production and Processing Company Limited has produced and brought to market 6.5 tons of aromatic oil and various herbal products.