Nepal2019 Economic Complexity: -0.44, Rank 100 of 157
2019 Product Exports | Imports: $931M | $10.1B, 159 of 225 | 101 of 225
2019 Per Capita Product Exports | Imports: $32.5 | $354, 212 of 219 | 187 of 219
2018 Service Exports | Imports : $1.75B | $1.8B, 58 of 88 | 63 of 88
Overview: In 2019 Nepal was the number 99 economy in the world in terms of GDP (current US$), the number 159 in total exports, the number 101 in total imports, the number 164 economy in terms of GDP per capita (current US$) and the number 100 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Nepal are Palm Oil ($187M), Non-Retail Synthetic Staple Fibers Yarn ($79.6M), Knotted Carpets ($69.7M), Soybean Oil ($52.7M), and Flavored Water ($38.8M), exporting mostly to India ($629M), United States ($92.7M), Germany ($32.5M), Turkey ($26.2M), and United Kingdom ($22.7M).
Imports: The top imports of Nepal are Refined Petroleum ($1.36B), Semi-Finished Iron ($413M), Broadcasting Equipment ($370M), Petroleum Gas ($258M), and Rice ($242M), importing mostly from India ($7.11B), China ($1.47B), United Arab Emirates ($282M), Hong Kong ($188M), and Singapore ($138M).
In 2019, Nepal exported a total of $931M, making it the number 159 exporter in the world. During the last five reported years the exports of Nepal have changed by -$80.9M from $1.01B in 2014 to $931M in 2019.
The most recent exports are led by Palm Oil ($187M), Non-Retail Synthetic Staple Fibers Yarn ($79.6M), Knotted Carpets ($69.7M), Soybean Oil ($52.7M), and Flavored Water ($38.8M). The most common destination for the exports of Nepal are India ($629M), United States ($92.7M), Germany ($32.5M), Turkey ($26.2M), and United Kingdom ($22.7M).
Top Import (2019): Refined Petroleum, $1.36B
Top Origin (2019): India, $7.11B
In 2019 Nepal imported $10.1B, making it the number 101 trade destination in the world. During the last five reported years the imports of Nepal changed by $1.84B from $8.28B in 2014 to $10.1B in 2019.
The most recent imports of Nepal are led by Refined Petroleum ($1.36B), Semi-Finished Iron ($413M), Broadcasting Equipment ($370M), Petroleum Gas ($258M), and Rice ($242M). The most common import partners for Nepal are India ($7.11B), China ($1.47B), United Arab Emirates ($282M), Hong Kong ($188M), and Singapore ($138M).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Nepal Exports Services (2018): $1.75B
Nepal Imports Services (2018): $1.8B
In 2018, Nepal exported $1.75B worth of services. The top services exported by Nepal in 2018 were Travel ($640M), Other business services ($451M), Government services, n.i.e. ($272M), Computer and information services ($236M), and Transportation ($108M).
The top services imported by Nepal in 2018 were Travel ($836M), Transportation ($625M), Other business services ($229M), Insurance services ($65.1M), and Government services, n.i.e. ($29.9M).
The top product import tariffs by their MFN Ad Valorem value for Nepal are Air gun pellets, parts of shotgun cartridges (80%) and Arms nes, (spring/air/gas guns, truncheons, etc) (80%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Nepal are:
During the last 20 years Nepal's economy has become relatively más complex, moving from the 108th to the 100th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Nepal has a high level of specialization in Knotted Carpets (1.49k), Nutmeg, mace and cardamons (426), Non-Retail Synthetic Staple Fibers Yarn (284), Rosin (150), and Palm Oil (124). Specialization is measured using RCA, an index that takes the ratio between Nepal observed and expected exports in each product.
The highest complexity exports of Nepal according to the product complexity index (PCI) are Parts and accessories for musical instruments (1.28), Plastic floor, wall or ceiling covering, roll or tiles (0.87), Plastic articles nes (0.86), Watch movements, complete and assembled (0.83), and Quaternary ammonium salts, hydroxides, lecithins, etc (0.76). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Nepal according to the relatedness index, are Knit Men's Shirts (0.2), Non-Knit Men's Undergarments (0.2), Knit T-shirts (0.2), Knit Men's Undergarments (0.2), and Knit Women's Undergarments (0.2). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Nepal is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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