flag Nepal Nepal: Perfil comercial

Foreign Trade in Figures

Although trade policies were modified significantly after the change of government, the country seems keen to open its economy further to foreign trade and develop its exports. In 2020, foreign trade represented 41% of GDP (World Bank, 2022), in relative decline. The average applied tariff rate is 14.2% and companies that export more than 90% of their goods are exempt from customs duties, excise duties, and sales taxes. The country is a member of WTO. However, significant barriers to the development of trade persist, including lack of skilled labour, advanced technology, and geographic accessibility.

Nepal’s exports are led by soybean oil (22.6% of all exports in 2020), nutmeg, mace and cardamon (5.5%) palm oil (5.1%) and tea (3.8%). According to OEC latest data (2022), India is by far the main trading partner with 70% of all exports in 2020 (followed by the USA with 10.3%) and 71.4% of all imports the same year (followed by China with 14.2%).

The Nepalese trade balance is structurally in deficit (USD -12.2 billion in 2019, the widest since 2014). In 2020, exports reached USD 2.49 billion USD while imports reached 9.91 billion USD, resulting in a deficit of 7.42 billion USD (WTO and World Bank, 2022).

 
Foreign Trade Indicators 20162017201820192020
Imports of Goods (million USD) 9,65010,34512,71212,3409,856
Exports of Goods (million USD) 740742786968856
Imports of Services (million USD) 1,2501,5911,7741,6871,074
Exports of Services (million USD) 1,2821,3831,4771,512830
Imports of Goods and Services (Annual % Change) 328196-15
Exports of Goods and Services (Annual % Change) -17986-16
Trade Balance (million USD) -8,002-9,365-11,916-11,021-8,700
Foreign Trade (in % of GDP) 4245484941
Imports of Goods and Services (in % of GDP) 3437414134
Exports of Goods and Services (in % of GDP) 88887

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

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Main Partner Countries

Main Customers
(% of Exports)
2019
India 68.7%
United States 10.3%
Germany 3.0%
Turkey 2.5%
United Kingdom 2.3%
See More Countries 13.2%
Main Suppliers
(% of Imports)
2019
India 63.1%
China 15.7%
Indonesia 2.1%
United Arab Emirates 2.1%
United States 1.3%
See More Countries 15.7%

Source: Comtrade, Latest Available Data

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Main Products

1.0 bn USD of products exported in 2019
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified) 19.9%
Yarn of synthetic staple fibres (excl. sewing...Yarn of synthetic staple fibres (excl. sewing thread and yarn put up for retail sale) 8.0%
Carpets and other textile floor coverings, of...Carpets and other textile floor coverings, of textile materials, knotted, whether or not made-up 6.8%
Soya-bean oil and its fractions, whether or not...Soya-bean oil and its fractions, whether or not refined (excl. chemically modified) 5.6%
Nutmeg, mace and cardamomsNutmeg, mace and cardamoms 4.6%
See More Products 55.1%
12.3 bn USD of products imported in 2019
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 12.5%
Semi-finished products of iron or non-alloy steelSemi-finished products of iron or non-alloy steel 3.7%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 2.5%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 2.3%
RiceRice 2.2%
See More Products 76.9%

Source: Comtrade, Latest Available Data

 

To go further, check out our service Import Controls and Export Controls

To go further, check out our service Import Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

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List of tariffs and local taxes that apply to your product on our service Customs Duties and Local Taxes

 

Trade Compliance

International Conventions
Member of World Trade Organisation
International Economic Cooperation
Member of South Asian Association for Regional Cooperation
Useful Resources
Customs Department
National Organisation of Intellectual Property
The Department of Industry.
 
 
 

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Latest Update: April 2022

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