Home / Knowledge / News / Overseas trade rises amidst all odds
Overseas trade rises amidst all odds
03
Oct '08
Even after witnessing so much of instability and labour unrest, Nepal managed to take its overseas trade to nearly Rs286.9 billion in the fiscal 2007- 08. This shows a significant growth of 13 percent when compared to previous year, according to the available statistics.

The bilateral trade with India also witnessed a rise of 16 percent and touched around Rs183.15 billion. On the other hand, trade with third nations grew at a slower pace and reached Rs103.75 billion, showcasing a slight rise of 7.5 percent.

However, the image of Nepal suffered in international market due to internal upheaval that resulted in lower productivity and shrinking profit margins. The import of various commodities rose considerably, making Nepal's trade deficit widen by almost 22 percent and came to around Rs165.32 billion.

The exports increased by merely 2.4 percent to reach Rs 60.78 billion during fiscal 2007- 08. Imports on the other hand, sprang up by over 16 percent and totaled Rs. 226.11 billion.

India is Nepal's largest trading partner; however, exports to the country recorded a decline of 7.4 percent during the year and reached around Rs38.62 billion. Import from India increased by 25 percent valued at approximately Rs144.52 billion.

On the other hand exports to third nations grew by more than 25 percent and helped nation earn nearly Rs22.16 billion. The import rose over 3 percent and reached Rs81.59 billion. Yet the growth in exports to third countries did not contribute much to bringing down the trade deficit.

Even in third country markets, the leading products of Nepal such as woolen carpet, garment and pashmina products faced tough times due to external and internal conditions.

With an export volume coming close to Rs5.04 billion, woollen carpets became Nepal's largest exportable commodity. Readymade garments acquired the second place, with exports amounting to approximately Rs4.74 billion.

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search