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Exports of readymade garments tumbles

28
Jul '08
Readymade garment exports, especially from the eastern part of Nepal has dropped by 25 percent during the first eleven months of the fiscal 2007-08 compared to the same period of the previous year.

Garment manufacturing enterprises believe that this downtrend is largely due to weakened demand for Nepali apparels in international market.

A total of Rs643.7 million worth of apparels were exported by Nepal in the period under review. Data availed from the Eastern Trade and Export Promotion Center shows that US emerged as the largest importer spending Rs495.7 million on garments during the period.

Italy and Canada stood next in line, importing garments worth Rs7.6 and 71 million respectively. On the other hand, Germany and New Zealand also imported goods worth Rs4.1 million and Rs0.8 million respectively, while Portugal and France spent Rs3.9 million and 37.8 million respectively on the same.

Similarly Mauritius and the United Kingdom imported garments worth Rs 4.7million and Rs 1.63 million respectively while Spain bought Rs12.2 million worth of garments during the period.

Reports have shown that more than 6 garment factories have closed in Morang and Sunsari due to drooping demand and the consequent reduction in exports.
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