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2022
Economic Complexity
Research 0.25Rank 46 of 135
2022
Product
Exports | Imports $1.43B | $13.4B153 of 226 |  105 of 226
2022
Per Capita Product
Exports | Imports $46.7 | $439175 of 220 |  189 of 220

About

Overview In 2022 Nepal was the number 153 economy in the world in terms of total exports and the number 105 in total imports.

Exports The top exports of Nepal are Palm Oil ($184M), Soybean Oil ($180M), Non-Retail Synthetic Staple Fibers Yarn ($92.3M), Knotted Carpets ($90.4M), and Fruit Juice ($48.6M), exporting mostly to India ($956M), United States ($152M), Germany ($43M), Turkey ($28.3M), and United Kingdom ($26.2M).

Imports The top imports of Nepal are Refined Petroleum ($2.24B), Petroleum Gas ($504M), Gold ($433M), Rice ($322M), and Soybean Oil ($306M), importing mostly from India ($8.66B), China ($1.78B), United Arab Emirates ($374M), Indonesia ($297M), and United States ($280M).

Location Nepal borders India and China by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Nepal.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Palm Oil$184M
Top Destination (2022)India$956M

In 2022, Nepal exported a total of $1.43B, making it the number 153 exporter in the world. During the last five reported years the exports of Nepal have changed by $519M from $908M in 2017 to $1.43B in 2022.

The most recent exports are led by Palm Oil ($184M), Soybean Oil ($180M), Non-Retail Synthetic Staple Fibers Yarn ($92.3M), Knotted Carpets ($90.4M), and Fruit Juice ($48.6M). The most common destination for the exports of Nepal are India ($956M), United States ($152M), Germany ($43M), Turkey ($28.3M), and United Kingdom ($26.2M).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Growth
Fastest Growing Export Markets (2021 - 2022)
Singapore$23.6M (+ 1.24k%)
Central African Republic$8.87M (+ 120k%)
Turkey$8M (+ 39.4%)
Fastest Growing Import Markets (2021 - 2022)
Jordan$127M (+ 13.4k%)
Qatar$88.9M (+ 1.18k%)
Oman$44.8M (+ 267%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Research)0.25Rank 46 of 135

Most Specialized Products by RCA Index

Nepal has a high level of specialization in Knotted Carpets (1.45k), Nutmeg, mace and cardamons (622), Felt (328), Non-Retail Synthetic Staple Fibers Yarn (236), and Other Vegetable Products (209). 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

The highest complexity exports of Nepal according to the product complexity index (PCI) are Engravings, prints and lithographs; original (1.62), Copper Springs (1.38), Musical instrument parts (for example, mechanisms for musical boxes) and accessories (for... (1.36), Copper; articles thereof n.e.c. in chapter 74 (1.07), and Glass beads, imitation pearls, precious or semi-precious stones and similar glass smallwares,... (0.94). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Nepal according to the relatedness index, were Knit Men's Shirts (0.22), Knit T-shirts (0.21), Knit Men's Undergarments (0.2), Non-Knit Men's Undergarments (0.2), and Non-Knit Babies' Garments (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.

Product Space

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 a country currently specializes in.

Relatedness Space

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.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

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