Nepal's garment exports slide 9.7% in 11 months of FY17

10 Jul '17

2 min read

The exports of readymade garments from Nepal declined by 9.7 per cent to Np Rs 4.724 billion (US$ 45.711 million) in the first eleven months of financial year 2016-17 that ends on July 15, 2017, compared to exports of Rs 5.232 billion made during the corresponding period of the previous fiscal, according to the figures released by the Trade and Export Promotion Centre.

Woollen carpet exports, too, dropped by 8.3 per cent to Rs 6.725 billion during the eleven-month period, as against Rs 7.331 billion worth of exports made in the same period of the previous fiscal, the data showed.

The exports of cotton, polyester and other yarns earned Rs 6.151 billion for Nepal during the period under review, up 27.4 per cent year-on-year, while fabric exports grew at 0.6 per cent to Rs 3.048 billion.

However, exports of woollen and pashmina shawls from Nepal decreased by 15.8 per cent year-on-year to Rs 2.189 billion during the eleven-month peroid, as per the data.

Lower cash incentives for exports, stoppage of subsidies for participating in international trade fairs, and the scrapping of duty free quota facility for Nepali products by the US government are the reasons behind the fall in value of exports.

Meanwhile, Nepal’s imports of articles of apparel and clothing accessories stayed stable at Rs 12.121 billion, whereas its imports of man-made staple fibres climbed 12.9 per cent to Rs 9.654 billion. Imports of cotton yarn and fabrics fell 16.2 per cent to Rs 3.889 billion during the period under review. (RKS)

Fibre2Fashion News Desk – India

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