Exports of clothing to its key markets in the US, which have been on a downhill since the beginning of the year continued their descent even in to the month of May 2009, in falling by 49 percent year-o-year.
Compared to US $1.1 million in the month of May 2008, shipments of apparels declined to just $541,232 in May 2009. Exports of garments to US have fallen by 73 percent in January, 55 percent in February, 32 percent in March and 58 percent in April.
The only saving grace for the ready made garment sector in Nepal could be the passage of the new bill tabled in the US which mandates providing tariff free access to exports from 14 poor countries across the globe, which includes Nepal.
Fibre2fashion News Desk - India
marketing@alchempro.com
