Home / Knowledge / News / Apparel/Garments / Nepal's RMG, Pashmina exports swell on rupee depreciation
Nepal's RMG, Pashmina exports swell on rupee depreciation
03
Dec '13
The exports of Nepal’s readymade garments (RMG), woolen carpets and Pashmina recorded double-digit growths during the first quarter of the current fiscal year that began on July 16, owing to the depreciation of Nepali currency against US dollar.
 
The Nepali currency value on July 16 was Np Rs 95.012 for one US dollar, which was quoted on November 30, 2013 at Np Rs 100.044 for one US dollar.
 
According to statistics from Nepal Rastra Bank (NRB), exports of readymade garments surged 31.2 percent year-on-year to Rs 1.9 billion during the first three months of the current fiscal year, exports of woolen carpets rose 24.5 percent year-on-year to Rs 2.16 billion and exports of Pashmina jumped 47.1 percent to Rs 720.4 million during the same period, reports the Kathmandu Post.
 
The depreciation of the domestic currency against the US dollar has been attributed as the main reason for the increase in exports of these products, in addition to increasing orders from European countries and newly emerging destinations like China, UAE and Canada.
 
During the financial year that ended on July 15, 2013, Nepal exported garments worth around Rs 4 billion, carpets worth Rs 6.075 billion, and Pashmina products worth Rs. 2.07 billion, according to the NRB data.
 
In October 2013, the Government of Nepal submitted a list of 100 new products including garments and Pashmina, to the US, as proposed items for inclusion in the Generalized System of Preferences (GSP) facility. The inclusion of these products in the revised GSP would help them to qualify for preferential access to the US market, which until last fiscal year was the main export destination of these products.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 16th Aug 2017

USITC to continue investigations on PSF imports

The US International Trade Commission (USITC) has determined that...

Textiles | On 16th Aug 2017

India’s apparel exports stumble in July 2017

Exports of readymade garments (including those made of cotton,...

Apparel/Garments | On 16th Aug 2017

EU displaces Japan as Myanmar’s largest apparel market

After the reinstatement of Generalised Scheme of Preferences (GSP)...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X