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Nepal garment exports surge in FY12
12 Sep '12
1 min read
The exports of garments from the Himalayan nation of Nepal surged by over 30 percent year-on-year in the fiscal year that ended on July 15, 2012.
In the fiscal year, Nepal exported garments worth Np Rs. 4 billion, registering a growth of 30.8 percent compared to exports of Rs. 3.062 billion in fiscal 2010-11, according to the annual export data released by Nepal Rastra Bank.
Garment Association – Nepal (GAN) said the value-addition to traditional apparels made Nepali products more distinct and competitive with products from India and China, which, in turn, helped in export growth of Nepali garments.
The US is the largest buyer of Nepali garments, and the Nepalese garment sector is now working to promote its products in Europe, Australia and India.
In fiscal 2010-11, Nepal’s clothing exports declined significantly to Rs. 3.062 billion from previous fiscal’s exports worth Rs. 3.89 billion.
Fibre2fashion News Desk - India
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