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Nepal’s garment exports rise 46.4% in first 9 months

June 28, 2014 (Nepal)

The exports of readymade garments from Nepal increased by a sharp 46.4 percent to Np Rs. 4.018 billion (US$ 41.77 million) during the first nine months of the ongoing financial year that began on July 16, 2013, compared to exports of Rs. 2.744 billion made during the corresponding period of the previous fiscal, according to the figures released by the Trade and Export Promotion Centre.
 
Woolen carpet exports fetched Rs. 5.487 billion during the first three quarters of the current fiscal, showing a rise of 39 percent over Rs. 3.946 billion exports made during the same period in previous financial year, the data showed.
 
The exports of cotton, polyester and other yarns earned Rs. 4.632 billion for Nepal during the period under review, up 8.3 percent year-on-year, while fabric exports grew at 2.8 percent year-on-year to Rs. 4.073 billion.
 
However, exports of woolen and Pashmina shawls from Nepal decreased by 0.5 percent year-on-year to 1.577 billion during the nine-month period, as per the data.
 
Meanwhile, Nepal’s imports of articles of apparel and clothing accessories jumped by 22.33 percent year-on-year to Rs. 8.546 billion, whereas its imports of man-made staple fibres climbed 8.4 percent year-on-year to Rs. 7.575 billion. Imports of cotton yarn and fabrics increased by 5.71 percent to Rs. 3.56 billion during the period under review.
 
In fiscal year 2012-13 that ended on July 15, 2013, Nepal earned Rs. 5.66 billion from exports of woolen carpets, Rs. 3.824 billion from readymade garments, Rs. 5.835 billion from yarns, Rs. 5.399 billion from fabrics, and Rs. 2.179 billion from woolen and Pashmina shawls.
 
In comparison, Nepal spent Rs. 4.373 billion on import of cotton yarn and fabric, Rs. 8.711 billion on man-made staple fibres, and Rs. 8.99 billion on articles of apparel and clothing accessories.
 

Fibre2fashion News Desk - India
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