Garment exports surge by 52.8 per cent in first eight months

Garment exports surge by 52.8 per cent in first eight months

Readymade garments export from Nepal increased by 52.8 per cent to Rs 3.615 billion ($37.633 million) during the first eight months of the current financial year 2013-14, compared to the exports of Rs 2.366 billion during the same period of last fiscal year, according to Trade and Export Promotion Centre (TEPC). Woolen carpet exports fetched Rs 4.801 billion during the eight month that is a rise of 36.1 per cent over Rs 3.527 billion exports during the same period last fiscal year, the data revealed, adding that the exports of cotton, polyester and other yarns earned Rs 4.028 billion – up by 6.1 per cent year-on-year – while fabric exports grew by 5.9 per cent year-on-year to 3.76 billion. Exports of woolen and Pashmina shawls also increased by a meager 0.6 per cent year-on-year to 1.466 billion, according to the data. Likewise, imports of articles of apparel and clothing accessories also jumped by 22.4 per cent year-on-year to Rs 7.707 billion, whereas imports of man-made staple fibres climbed by 14.1 per cent year-on-year to Rs. 6.723 billion. Imports of cotton yarn and fabrics also increased by 4.4 per cent to Rs 3.158 billion, the TEPC added. In fiscal year 2012-13, Nepal had 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. Likewsie, the country imported Rs 4.373 billion worth cotton yarn and fabric, Rs 8.711 billion man-made staple fibres, and Rs 8.99 billion articles of apparel and clothing accessories, it added.
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