Nepal's Garment Exports Increased by a Sharp 52.8% During The First Eight Months

The exports of readymade garments from Nepal increased by a sharp 52.8 percent to Np Rs. 3.615 billion (US$ 37.633 million) during the first eight months of the ongoing financial year that began on July 16, 2013, compared to exports of Rs. 2.366 billion 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. 4.801 billion during the eight-month period, showing a rise of 36.1 percent over Rs. 3.527 billion exports made during the same period in previous financial year, the data showed.

The exports of cotton, polyester and other yarns earned Rs. 4.028 billion for Nepal during the period under review, up 6.1 percent year-on-year, while fabric exports grew at 5.9 percent year-on-year to 3.76 billion.

Exports of woolen and Pashmina shawls from Nepal increased by 0.6 percent year-on-year to 1.466 billion during the eight-month period, as per the data.

Meanwhile, Nepal’s imports of articles of apparel and clothing accessories jumped by 22.4 percent year-on-year to Rs. 7.707 billion, whereas its imports of man-made staple fibres climbed 14.1 percent year-on-year to Rs. 6.723 billion. Imports of cotton yarn and fabrics also increased by 4.4 percent to Rs. 3.158 billion.

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.