Koshi Province faces declining Agricultural Land: NRB
KATHMANDU, JANUARY 14: According to the "Provincial Economic Activities Study Report for Fiscal Year 2023/24" published by Nepal Rastra Bank (NRB), agricultural land in Koshi Province is shrinking. The area under all crops decreased by 1.55% in FY 2023/24 compared to the previous year. This decline is attributed to growing migration and the increasing construction of residential structures on farmland.
Economic Overview
Koshi Province contributes significantly to Nepal's economy, accounting for 15.84% of the national GDP in FY 2023/24. The province's economic structure relies heavily on the service sector (50.88% of GDP), followed by agriculture (32.80%) and industry (16.32%).
Agricultural Production Trends
Rice, maize, wheat, and millet dominate, covering 71.64% of cultivated land. Food and cash crops occupy 87.92% of the total area, with vegetables and other crops comprising 5.11% and 6.97%, respectively.
Overall agricultural production increased by 1.13% in FY 2023/24, driven by a 7.45% rise in paddy production and a 0.86% increase in millet. Vegetable production rose by 1.98%, while fruit production declined by 0.94% and spice production fell by 8.03%.
Feedback