Top 10 Countries with Highest Export of Jewellery of Gold to Nepal

Last updated on 2024-04-24

Nepal's economy relies heavily on trade with other countries. In South Asia, Nepal is a trade-liberalized country with a trade-dependent economy. Imports in Nepal are expected to reach 123160.00 million NPR at the end of this quarter, according to Trading Economics global macro models and expert assessments. Nepal Imports are anticipated to be about 129849.00 million NPR in 2022, according to our econometric models. Here, we have compiled a list of the Top 10 countries from which gold jewelries are imported.

*The data is collected from the Ministry of Finance and ranking is done according to the import value.

10. United Kingdom

Image Source: Association Montessori Internationale

The United Kingdom has long been regarded as one of the most important trading partners. The Treaty of Friendship between the United Kingdom and Nepal was signed in 1923, further formalizing the two countries' relations. Since the start of diplomatic relations, the two countries' relationship has been defined by friendship, mutual understanding, cordiality, cooperation, and respect for each other's national interests and aspirations.So far, 634 grams of gold jewelry have been imported into Nepal, totaling Rs. 2,238.

Import Value (in Thousands) : Rs. 2,238
Import Quantity : 634 grams

9. Singapore

Image Source: CNN

Both Singapore and Nepal are multiracial, multicultural, and multilingual countries. Singapore has been adopting a dynamic social strategy to strengthen national identity by maintaining the interests of all groups and establishing a shared social space for people to enjoy. In the mid-1960s, Singapore began to move away from import substitution by luring multinational firms, when only a few other countries were doing so. Nepal's imports totaled $5.33 million in 2020, according to the UN's COMTRADE database on international trade.

Import Value (in Thousands) : Rs. 2,511
Import Quantity : 601 grams

8. Malaysia

Image Source: USA Today

Nepal and Malaysia established diplomatic relations on January 1, 1960. Since the beginning of diplomatic relations, the two countries have had warm and cordial relations. Malaysia imports machinery and car parts, vegetable oils, electrical equipment and electronic devices, furniture and components, plastic and other chemical commodities from Nepal, whereas Nepal exports vegetable products, handicrafts, textiles, and clothes to Malaysia. Malaysia reaps significant benefits from bilateral trade. Nepal's imports from Malaysia totaled US$99.15 million in 2019, according to the United Nations COMTRADE database on international trade.

Import Value (in Thousands) : Rs. 2,511
Import Quantity : 577 grams

7. Bahrain

Image Source: Nations Online Project

The Kingdom of Bahrain and Nepal established diplomatic ties on January 13, 1977. The two countries have long maintained warm and amicable relations. Our bilateral relations are built on mutual trust, respect, understanding, and cooperation. The Embassy of Nepal in Riyadh was concurrently accredited to Bahrain prior to the opening of the residential embassy in Bahrain.

Import Value (in Thousands) : Rs. 2,686
Import Quantity : 550 grams

6. Hong Kong

Image Source: Velvet Escape

Diplomats' relationship Nepal's relationship with the Hong Kong Special Administrative Region dates back to the time when Hong Kong was under British sovereignty. The Royal Nepalese Liaison Office in Hong Kong was in charge of maintaining the relationship. The Nepalese government has long admired Hong Kong's free and tolerant society, as well as the countless opportunities offered to ethnic minorities. The Governments of Nepal and Hong Kong SAR can strengthen their relationship through cooperating in areas such as tourism promotion, business promotion, investment promotion, and a variety of other attractive industries.

Import Value (in Thousands) : Rs. 3,729
Import Quantity : 824 grams

5. Korea, Republic of

Image Source: State Department

On May 15, 1974, Nepal and the Republic of Korea (RoK) established diplomatic ties. Mutual respect, friendliness, and cooperation are the foundations of the two countries' relationship. Frequent exchanges of visits at various levels have strengthened these ties. South Korea is a major foreign investor in Nepal. Many Korean investors have expressed great interest in investing in Nepal, especially in the hydropower, construction, and service sectors. Joint ventures are taking place in a variety of areas, including electronics, the hotel business, the chemical industry, medicinal products, and mineral water, to name a few.

Import Value (in Thousands) : Rs. 4,799
Import Quantity : 1,188 grams

4. United States

Image Source: Newsweek

The United States, officially the United States of America, is a federal republic in North America made up of 50 states. The United States is the world's most powerful economic power in terms of gross domestic product (GDP). The country's prosperity is owed in part to its enormous natural resources and massive agricultural production, but it owes even more to its highly developed economy.

Import Value (in Thousands) : Rs. 6,237
Import Quantity : 1,797 grams

3. Saudi Arabia

Image Source: Economist Intelligence Unit

On March 15, 1977, Nepal and the Kingdom of Saudi Arabia established diplomatic ties. In 1978, Nepal established an embassy in Saudi Arabia at the status of Charge d'Affaires. Nepal and Saudi Arabia have had excellent relations since the start of diplomatic relations. Economic cooperation between the two countries has a lot of promise. Trade, commerce, and tourism marketing are still being explored and utilized to their full potential. Saudi Arabia has considerable oil and mineral resources, and Nepal may consider collaborating in this field. The Saudis continue to benefit from the trade balance between Nepal and Saudi Arabia.

Import Value (in Thousands) : Rs. 14,351
Import Quantity : 3,585 grams

2. Qatar

Image Source: Jurist.org

On January 21, 1977, Nepal and the State of Qatar established diplomatic relations. Since then, the two countries' bilateral ties have been cordial and friendly, built on mutual trust, respect, understanding, and cooperation. Nepal established an embassy in Doha on July 11, 2000, whereas Qatar established an embassy in Kathmandu in August 2011. Nepal and Qatar have a negligible commercial relationship. It is, however, in Qatar's benefit. Pasta, carpets, spaghetti, noodles, and tea are Nepal's main exports to Qatar, whereas polymers of ethylene, petroleum oil, and bituminous minerals are Qatar's main imports.

Import Value (in Thousands) : Rs. 57,843
Import Quantity : 13,398 grams

1. United Arab Emirates

Image Source: Time Out Abu Dhabi

The United Arab Emirates is Nepal's most important commercial partner. On a bilateral level, the two countries have a warm and cordial relationship built on mutual understanding and collaboration. In 2020, the United Arab Emirates imported US$2.18 million from Nepal, according to the UN COMTRADE database on international trade. Imported commodities include carpets, autos, stones, dairy products, and so forth.

Import Value (in Thousands) : Rs. 1,16,482
Import Quantity : 26,832 grams