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 null 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).

Location Nepal borders India and China by land.

Historical Data

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Yearly Exports

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Top Export (2019): Palm Oil, $187M

Top Destination (2019): India, $629M

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).

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Yearly Imports

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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).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Nepal Exports Services (2019): $1.62B

Nepal Imports Services (2019): $1.71B

In 2019, Nepal exported $1.62B worth of services. The top services exported by Nepal in 2019 were Travel ($695M), Other business services ($504M), Computer and information services ($185M), Transportation ($111M), and Government services, n.i.e. ($109M).

The top services imported by Nepal in 2019 were Travel ($703M), Transportation ($617M), Other business services ($248M), Insurance services ($68.5M), and Computer and information services ($40.4M).

Tariffs by Product

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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:
136: Most Favoured Nation duty rate treatement
366: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA)
367: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA) for The least developed nations in South Asia

Economic Complexity

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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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.

Export Opportunities by Relatedness

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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.

Relatedness Space

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This network shows the products most related to the production structure of Nepal. These are products that tend to be co-exported with the products that Nepal exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.

Economic Complexity Ranking

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Scale

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.

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