Trade Trend

In 2023, Nepal's total export value is 1.23Billion USD, total import value is 10.06Billion USD, Deficit is -8.83Billion USD, and foreign trade dependency is 0.276. In 2023，Nepal's top export products are Carpets and other textile floor coverings; knotted, whether or not made up(93.07Million USD), Yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale(83.84Million USD), Iron or nonalloy steel; flatrolled products, width 600mm or more, clad, plated or coated(79.74Million USD), top export destinations are India(813.70Million USD), United States(143.65Million USD), Germany(38.93Million USD). In 2023, Nepal's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(1.66Billion USD), Petroleum gases and other gaseous hydrocarbons(384.51Million USD), Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or the like; iron having a minimum purity of 99.94%, in lumps, pellets or similar forms(308.95Million USD), top import origins are India(7.22Billion USD), China(1.77Billion USD), Singapore(185.36Million USD).

Comparing to 2022, Nepal's total export value decreased -66.98Million USD(-5.15%) in 2023, this could result from its export decreases of products such as Soyabean oil and its fractions; whether or not refined, but not chemically modified(-179.27Million USD or -94.91%), Palm oil and its fractions; whether or not refined, but not chemically modified(-115.04Million USD or -62.05%), Fruit or nut juices (including grape must and coconut water) and vegetable juices, unfermented, not containing added spirit, whether or not containing added sugar or other sweetening matter(-48.54Million USD or -99.82%) and export decreases to countries/economics such as India(-122.05Million USD or -13.04%), Turkey(-12.77Million USD or -48.31%), United States(-3.49Million USD or -2.37%). Comparing to 2022, Nepal's total import value decreased -3.69Billion USD(-26.81%) in 2023, this could result from its import decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-621.31Million USD or -27.24%), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(-369.78Million USD or -94.29%), Soyabean oil and its fractions; whether or not refined, but not chemically modified(-343.15Million USD or -98.95%), and its import decreases from countries/economies such as India(-1.47Billion USD or -16.96%), Indonesia(-332.98Million USD or -94.87%), United States(-235.30Million USD or -78.93%).

Cumulated to first 6 months of 2024, Nepal's total export value is 402.12Million USD, total import value is 3.51Billion USD, and tradedeficit is -3.10Billion USD. Cumulated to first 6 months of 2024, Nepal's top export products are Carpets and other textile floor coverings; knotted, whether or not made up(32.60Million USD), Palm oil and its fractions; whether or not refined, but not chemically modified(26.82Million USD), Iron or nonalloy steel; flatrolled products, width 600mm or more, clad, plated or coated(24.41Million USD), and top export destinations are India(269.81Million USD), United States(49.79Million USD), China(13.64Million USD). Cumulated to first 6 months of 2024, Nepal's top import products are Carpets and other textile floor coverings; knotted, whether or not made up(32.60Million USD), Palm oil and its fractions; whether or not refined, but not chemically modified(26.82Million USD), Iron or nonalloy steel; flatrolled products, width 600mm or more, clad, plated or coated(24.41Million USD), and top import origins areIndia(2.34Billion USD), China(796.88Million USD), United States(57.20Million USD).