Information on Export and Import Products of Nepal
What kind of goos and products are imported in Nepal? What is exported in Nepal? Get here all information about it. Nepal is the 150th largest export economy in the world.Surprisingly being located between economic powerhouses China and India, the Federal Democratic Republic of Nepal, around 708.6 million U.S dollars worth of goods were sold out around the world in the year 2016 alone, according to 2017 statistics.Exports averaged 5482.60 Million NPR and are projected to be 5815.7 in May 2017. The exports of Nepal have decreased at an annualized rate of -1.7% from 970 million U.S dollar to 909 million U.S dollar in 2015. According to 2015 data, Nepal has exported over two-thirds(68.7%) of the values of the goods to the other Asian countries, 12.5% of the European countries and 11.5% worths of goods to North America.
Information on Export and Import Products of Nepal
top exporting goods of Nepal
Similarly, based on data from the International Monetary Fund’s World Outlook Database, the total Gross Domestic Product of Nepal amounted to 77.1 U.S billion dollar in 2016, and exports represent just 0.9% of total Nepalese economic output.
And also, a landlocked central Himalayan country in South Asia, Nepal’s top 10 exports accounted for almost three- quarters(72.3%) of the overall value of its global shipments. There are several goods like carpets, clothing, leather goods,tobacco, jute goods, grain, herbs, tea, coffee, steel, Cement, Business Processing Outsourcing, Software, Information Technology, Furniture, Cardamoms,vegetable oils, etc.being exported by the country Nepal, accounted mainly to the country India 61.2% and, then to United States 9.2% (2015). The export-oriented carpet and garment industries have grown rapidly in recent years and together now account for approximately 70% of merchandise exports.
Discussing the export, one of the significant points of interest of fare is the proprietorship advantage which is particular to the organizations’ worldwide experience, resource and capacity of the exporter to either build up the separated item or minimal effort item within the qualities chain (Hertner and Jones, 2007). A blend of speculation hazard and market potential is known as the area advantage of the specific market mix. So as to hold the center abilities inside the association and sewing it all through the nation without holding the permit, offering or outsourcing is the universal preferred standpoint in trade.
A portion of the associations having a lower level of proprietorship preferred standpoint may don’t go into the outside business sectors. On the off chance that an organization’s items and friends’ possession furnished with the universal favorable position and proprietorship advantage, the passage can be made through a generally safe model known as sending out under the diverse worldview. There is low venture requires in sending out of products than alternate methods of universal exchange and extension such remote direct speculation. Somehow it is perceived that the lower level of hazard result in, bring down the level of rate of return than perhaps alternate methods of global exchange (Khanna, 2007). Then again the standard profit for worldwide exchange send out deals won’t have more prominent potential but rather additionally there will be no hazard. In fare of products, the administrators are permitted to practice the different operational control any way it doesn’t have the alternative over the control of advertising exercises of the organization. The end customer of sent out products is far from the exporter, however, the different go-betweens would mange be able to the hazard.
We can list out top export product groups representing the higher dollar value in Nepalese global shipments during 2016.
1. Beverage, spirits.
2. Textile floor coverings
3. Man Made staple fibers
4. Coffee, Tea, Spices
5. Clothing, Accessories(not knit or crochet)
6. Plastics, plastic articles
7. Knit or Crochet clothing, Accessories
8. Iron, Steel
10..Food industry waste, Animal Fodder
11. Pashmina Shawl
1. Beverage and Spirits…
Beverage and spirits are the top goods being exported throughout the country Nepal, representing the 13.7% of the total exports. Almost 96.9 million U.S dollar of the transaction has taken place alone in the year 2016. They were the fastest growing among the top ten export categories, up by 206% starting from the year 2009.
2. Textile floor coverings
This stands as the second highest ranking good among the top goods being export by the country Nepal.It shares 12.8 percentage among the total exports of country Nepal, with the transaction of about 90.7 million U.S dollar in a year.
3. Man-made staple fiber
The man-made staple fiber is the third most worthy good being sold out by the country Nepal. We export much fiber without making a finished good, and sometimes we do make finished good and then export. It has the share of 8.3% among the total exports, with the transaction of 59 million US dollar in a year.
4. Coffee, Tea, Spices
Tea is a popular drink all over the world. Nepal is very popular in the international market in the quality of tea. In the international market, people prefer to buy Nepali tea. It has the good reputation in the international market and has a good scope of business too. Here a variety of tea is available in the market produce by the Nepal.
Some of the tea is produced by Nepal has the aroma and the taste of like that of Darjeeling.Nepal has a long history of tea development, started with the foundation of the Ilam Tea Estate in the slopes of Ilam District in 1863 and Soktim Tea Estate in the fields. It is believed that Mr. Gajaraj Singh Thapa was given the primary tea seeds from China and it was he who initially began tea ranch in Ilam District. six regions of Nepal create a tea. the diverse kind of tea is masala tea plain tea and so on
Coffee, tea, and spices are the fourth worthy goods being exported by the country Nepal. It has the share of 7.9% among the total exports, with the transaction of 56 million US dollar in a year.
5. Clothing, Accessories
Nepal Clothing items are uniquely well known for women wear like shirts, design wear, women jeans, shirts and Fashion Woman Wear, Hippy Clothing, Velvet Clothing, Womens Winter Clothing, Mens Winter Wear. as we know clothes and jewelry are very important for both ladies and gents. We manufacture handmade accessories and clothes knitted by the hand which is unique in design and comfortable in wearing too.this is the reason that we export clothing and accessories in the international market and the demand is also high.Clothing and accessories are the fifth highest goods being exported throughout the country Nepal, representing the 7.3% of the total exports. Almost 51.5 million U.S dollar of the transaction has taken place alone in the year 2016.
6. Plastic, Plastic articles
Plastic and plastic articles are the sixth most worthy good being sold out by the country Nepal. It has the share of 6.6% among the total exports, with the transaction of 46.6 million US dollar in a year.
7. Knit or Crochet clothing
Knit or crochet clothing have stood up in seventh highest goods being exported by the country Nepal. Actually, Nepalese knit or crochet clothing and accessories posted in the third fastest gain in value up by 163.1%.
8. Iron, steel
Iron and steel are also enlisted under the top 10 in the number 8 among the highest exports from the country Nepal. It has the share of 3.8% among the total exports, with the transaction of 26.7 million US dollar in a year.However, the greatest declines in the top 10 Nepalese exports categories was iron and steel which was down by -70%.
Footwear is the ninth highest goods sold out by the country Nepal representing the share of 3.7% among the total experts and with the transaction of about 26 million U.S dollar in a year
10. Food Industry waste, animal fodder
These items are the tenth highest goods being sold out by the country Nepal. It has the share of 3.3% among the total exports, with the transaction of 23.5 million US dollar.
11. Pashmina Shawl:
The shawl that is made by the fine quality goat wool is known as pashmina. The shawl that is made by the pashmina is very popular in the international market. The shawl of pashmina re found in different quality like 70% pashmina and 30% wool, a shawl made of cashmere and so on. It has the best market in the international market and it is known as one of the best product that is exported from Nepal to the international market. The textile of the pashmina is different found in different design.
The other product that is exported to the international market is rouge. The carpet that is exported in Germany and in other European countries handmade. This carpet is designed with different prints and are found in different attractive design. Nepal Carpet Exporters Association (NCEA) however dynamic in Ad-hoc board of trustees level as of now in 1998, set up its office just in September 2000. The fundamental target of NCEA is simply to secure the premiums and goals of Nepalese cover exporters through a procedure of successful approach campaigning and overall market advancement of Nepalese Carpet.
Top importing goods of Nepal
Nepal Imports Notes
Import of goods is good and profitable. Bringing in crude materials and products is one of the ways of expanding the overall revenues. There are a number of advantages in bringing in the products, for example, astounding, low costs, and advantages identified with the universal exchange. A merchant can have the similar favorable position which implies bring down costs (Jones, 2006). Additionally, the merchant can have the significantly less expensive items from the outside market because of low work cost, low charges and so forth as far as quality, the shipper can have the higher quality products and deliver the completed merchandise with high caliber and broaden the business net revenues. In a few nations, the government gives the help to the shipper for building up the exchange relations. The government gives the data of the makers and makers in the remote nation with the goal that the shipper can buy the high caliber and low-value products. Additionally, because of the administration contribution lessens the exchange chance.
A shipper can access to the provincially select assets and shoddy work for delivering the products. These assets are required in the assembling procedure that has specific aptitudes and can be sound in specific nations. For instance in electronic things, Japanese individuals are exceedingly proficient and maker in the UK utilize the work from Japanese market for delivering merchandise. The bringing in of assets incorporates everything beginning from work to innovation. Raw materials such as Oil, iron and steel gold, clothes, pharmaceutical products, cement, foods, electronic appliances, fertilizer, salt, sugar, tea, spare parts, and vehicles are some of the major imports of the country Nepal. Nepal has mainly import goods from India, about 58 percent of all imports and then from China of about 15.4%(2015). Others include Hong Kong, Singapore, Indonesia, Argentina, South Korea, Malaysia, Japan, and Germany.