Nepal (NPL) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Nepal-South Korea Trade: In 2022, Nepal exported $4.47M to South Korea. The main products that Nepal exported to South Korea were Felt ($641k), Fake Hair ($508k), and Raw Tobacco ($315k). Over the past 5 years the exports of Nepal to South Korea have increased at an annualized rate of 12.2%, from $2.51M in 2017 to $4.47M in 2022.

In 2022, Nepal did not export any services to South Korea.

South Korea-Nepal Trade: In 2022, South Korea exported $55.3M to Nepal. The main products that South Korea exported to Nepal were Cars ($12.5M), Medical Instruments ($4.16M), and Gold ($3.53M). Over the past 5 years the exports of South Korea to Nepal have decreased at an annualized rate of 7.83%, from $83.1M in 2017 to $55.3M in 2022.

In 2022, South Korea did not export any services to Nepal.

Comparison In 2022, Nepal ranked 153 in total exports ($1.43B), and does not have data regarding Economic Complexity Index. That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Nepal exported $4.47M to South Korea. The main products exported from Nepal to South Korea were Felt ($641k), Fake Hair ($508k), and Raw Tobacco ($315k). During the last 5 years the exports of Nepal to South Korea have increased at an annualized rate of 12.2%, from $2.51M in 2017 to $4.47M in 2022.

In 2017, South Korea exported $55.3M to Nepal. The main products exported from South Korea to Nepal were Cars ($12.5M), Medical Instruments ($4.16M), and Gold ($3.53M). During the last 5 years the exports of South Korea to Nepal have decreased at an annualized rate of 7.83%, from $83.1M in 2022 to $55.3M in 2017.

Exports from Nepal () to South Korea () (2022)

Exports from South Korea () to Nepal () (2022)

Latest Data

Trade between Nepal () and South Korea ()

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nepal
Top DestinationIndia$956M

South Korea
Top DestinationChina$150B

This map shows whether countries import more from Nepal or South Korea. Each country is colored based on the difference in imports they receive from Nepal and South Korea or the difference in the growth in imports.

In 2022, no countries were registered that imported more from Nepal than from South Korea.

In 2022, countries that imported more from South Korea than Nepal included China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea () and Nepal () (2022)

Comparative Advantage Nepal - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Nepal and South Korea by product, considering products traded by both, Nepal and South Korea.

During 2022, Nepal had a large net trade with South Korea in the exports of Textiles ($2.08M), Foodstuffs ($680k), and Footwear and Headwear ($540k).

During 2017, South Korea had a large net trade with Nepal in the exports of Transportation ($13.4M), Machines ($8.43M), and Plastics and Rubbers ($7.98M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nepal South Korea+$723kKnit Sweaters

Top Product Potential South Korea Nepal+$11.5MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Nepal and South Korea. This means that a dot/product with the flag of Nepal indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Nepal.

About

Historical Data

Bilateral Trade by Products

Exports from Nepal () to South Korea () (2022)

Exports from South Korea () to Nepal () (2022)

Latest Data

Trade between Nepal () and South Korea ()

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Nepal () (2022)

Comparative Advantage Nepal - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Nepal () and South Korea () (2022)

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