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

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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.

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.

Comparison In 2022, Nepal ranked 153 in total exports ($1.43B). That same year, Iceland ranked 116 in total exports ($7.31B). 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, 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 2017 to $151k in 2022.

In 2017, 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 2022 to $20k in 2017.

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

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

Latest Data

Trade between Nepal () and Iceland ()

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nepal
Top DestinationIndia$956M

Iceland
Top DestinationNetherlands$1.97B

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

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

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

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

Comparative Advantage Nepal - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Nepal had a large net trade with Iceland in the exports of Textiles ($90.1k), Mineral Products ($37.2k), and Instruments ($5.74k).

During 2017, Iceland had a large net trade with Nepal in the exports of Machines ($8.8k), Instruments ($8.07k), and Foodstuffs ($1.55k).

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 Nepal and Iceland. This means that a dot/product with the flag of Nepal indicates it has a comparative advantage over Iceland. Similarly, a dot/product with the flag of Iceland indicates it has a comparative advantage over Nepal.

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Nepal () and Iceland ()

Iceland Exports

Market Competitiveness

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

Comparative Advantage Nepal - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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