Nepal

Nepal ranked No. 126 in total trade value through March with a total of $78.61 million. Exports totaled $48.05 million and Imports totaled $30.57 million, a surplus of $17.48 million.

U.S. trade with Nepal rose to $78.61 million through March

Nepal’s trade with the United States rose to $78.61 million through the first three months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 79.64 percent above its total trade during the same time period last year. U.S. exports to Nepal increased 101.19 percent while U.S. imports from Nepal rose 53.75 percent. The U.S. surplus with Nepal was $17.48 million.

Through March, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 John F. Kennedy International Airport; No. 3 Port of Virginia; No. 4 Port of Savannah, Ga.; and No. 5 Low-Valued Imports and Exports. During the same period the previous year, the top five were No. 1 Port of Newark No. 2 John F. Kennedy International Airport No. 3 Port of New York No. 4 Los Angeles International Airport and No. 5 Low-Valued Imports and Exports. In the current time period, the top five accounted for 68.21 percent of Nepal’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark rose 116.71 percent to $18.12 million.
    Exports rose 142.84 percent to $16.68 million. Imports fell 3.4 percent to $1.44 million.
  • Trade with No. 2 John F. Kennedy International Airport rose 185.96 percent to $16.93 million.
    Exports rose 71.7 percent to $1.07 million. Imports rose 199.36 percent to $15.87 million.
  • Trade with No. 3 Port of Virginia rose 421.63 percent to $9.62 million.
    Exports rose 710.31 percent to $9.2 million. Imports fell 40.42 percent to $422,673.
  • Trade with No. 4 Port of Savannah, Ga. rose 1352.51 percent to $4.64 million.
    Exports rose 1355.11 percent to $4.57 million. Imports rose 1203.83 percent to $71,450.
  • Trade with No. 5 Low-Valued Imports and Exports rose 112.93 percent to $4.31 million.
    Exports rose 112.93 percent to $4.31 million. There were no imports.

Nepal ranked No. 126 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 152.

Meanwhile, total U.S. trade with the world increased to $964.77 billion, down 4.16 percent compared to the same period last year. The nation’s exports dropped 3.07 percent to $395.69 billion; imports dropped 4.91 percent to $569.09 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $173.4 billion, down compared to the same period of last year when the deficit was $190.25 billion.

The top five U.S. exports to Nepal by value through March were the categories of Soybeans; Soybean oilcake, other solid residue, not ground; Low value shipments; Beans, peas, dried or shelled; and Computers, respectively. They accounted for 85.55 percent of total exports to Nepal.

The value of the top five categories of U.S. imports from Nepal –– Antiques; Carpets, othert textile floor coverings, knotted; Preparations for animal feeding; Misc. articles made from textile materials; and Carpets & Oth Text Floor Cover, Woven, No Tuf 5702 –– accounted for 75.36 percent of all inbound shipments.

Looking more closely at U.S. exports to Nepal:

  • Soybeans rose 33.42 percent compared to last year to $17.13 million.
  • Soybean oilcake, other solid residue, not ground rose 4876.21 percent compared to last year to $15.07 million.
  • Low value shipments rose 112.93 percent compared to last year to $4.31 million.
  • Beans, peas, dried or shelled totaled $2.92 million. The previous year, there were no exports in this category.
  • Computers rose 41.35 percent compared to last year to $1.68 million.

Looking more closely at U.S. imports from Nepal:

  • Antiques rose 1107.93 percent compared to last year to $10.26 million.
  • Carpets, othert textile floor coverings, knotted rose 0.71 percent compared to last year to $7.36 million.
  • Preparations for animal feeding rose 13.58 percent compared to last year to $2.46 million.
  • Misc. articles made from textile materials rose 40.09 percent compared to last year to $1.81 million.
  • Carpets & Oth Text Floor Cover, Woven, No Tuf 5702 fell 30.74 percent compared to last year to $1.15 million.

In the latest annual figures available, Nepal recorded $214.04 million in trade with the United States. Total U.S. exports to Nepal were $ 123 million and imports from Nepal were $91.04 million. The U.S. surplus with Nepal was $31.97 million.