Nepal: garment exports up by 52.8 percent

In the first eight months of the financial year (June 16, 2013 – Feb 16, 2014), the exports of readymade garments (RGM) in Nepal

increased by 52.8 percent to 3.615 billion Nepalese rupees (37.633 million US dollars) from 2.366 billion Nepalese rupees (24.75 million US dollars) for the same period a year ago according to figures by the country’s Trade and Export Promotion Centre (TEPC).

The export of yarn increased by 6.1 percent for the eight months period, especially cotton, polyester and other yarns to 4.028 billion Nepalese rupees (42.14 million US dollars). Fabric exports grew by 5.9 percent to 3.76 billion Nepalese rupees (39.34 million US dollars) year-on-year. The export of woolen and Pashmina shawls increased slightly by 0.6 percent to 1.466 billion Nepalese rupees (15.34 million US dollars) year-on-year for the same eight months period from July 2013 through February 2014.

RMGs are one of the largest export sectors in Nepal in terms of foreign exchange earnings and providing employment opportunities. The major export markets for Nepal are the USA, Canada, Europe, Australia and India. Within Europe, Germany, France, The Netherlands, UK, Spain and Switzerland are important garment importing countries.