Iceland (ISL) and Nepal (NPL) Trade | The Observatory of Economic Complexity

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Iceland-Nepal Trade: In 2022, Iceland exported $20k to Nepal. The main products that Iceland exported to Nepal were Office Machine Parts ($8.56k), Medical Instruments ($7.68k), and Hard Liquor ($1.52k). Over the past 5 years the exports of Iceland to Nepal have increased at an annualized rate of 77.7%, from $1.13k in 2017 to $20k in 2022.

In 2022, Iceland did not export any services to Nepal.

Nepal-Iceland Trade: In 2022, Nepal exported $151k to Iceland. The main products that Nepal exported to Iceland were Knotted Carpets ($51.5k), Refined Petroleum ($37.2k), and Non-Knit Men's Suits ($13.6k). Over the past 5 years the exports of Nepal to Iceland have decreased at an annualized rate of 15.8%, from $355k in 2017 to $151k in 2022.

In 2022, Nepal did not export any services to Iceland.

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B). That same year, Nepal ranked 153 in total exports ($1.43B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $20k to Nepal. The main products exported from Iceland to Nepal were Office Machine Parts ($8.56k), Medical Instruments ($7.68k), and Hard Liquor ($1.52k). During the last 5 years the exports of Iceland to Nepal have increased at an annualized rate of 77.7%, from $1.13k in 2017 to $20k in 2022.

In 2017, Nepal exported $151k to Iceland. The main products exported from Nepal to Iceland were Knotted Carpets ($51.5k), Refined Petroleum ($37.2k), and Non-Knit Men's Suits ($13.6k). During the last 5 years the exports of Nepal to Iceland have decreased at an annualized rate of 15.8%, from $355k in 2022 to $151k in 2017.

Exports from Iceland () to Nepal () (2022)

Exports from Nepal () to Iceland () (2022)

Latest Data

Trade between Iceland () and Nepal ()

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Nepal
Top DestinationIndia$956M

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

In 2022, countries that imported more from Iceland than Nepal included Netherlands ($1.97B), United Kingdom ($672M), and Germany ($573M).

In 2022, countries that imported more from Nepal than Iceland included India ($956M), Singapore ($25.5M), and Central African Republic ($8.88M).

Difference in imports from Nepal () and Iceland () (2022)

Comparative Advantage Iceland - Nepal

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Nepal in the exports of Machines ($8.8k), Instruments ($8.07k), and Foodstuffs ($1.55k).

During 2017, Nepal had a large net trade with Iceland in the exports of Textiles ($90.1k), Mineral Products ($37.2k), and Instruments ($5.74k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Nepal () (2022)

Exports from Nepal () to Iceland () (2022)

Latest Data

Trade between Iceland () and Nepal ()

Iceland Exports

Market Competitiveness

Difference in imports from Nepal () and Iceland () (2022)

Comparative Advantage Iceland - Nepal

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Iceland () and Nepal () (2022)

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